Govt orders Ukrgasbank to select independent members of Supervisory Board during competition on par with state-owned banks

19:31, 24.01.2023 1 min read

At a meeting on Tuesday, the Cabinet of Ministers ordered Ukrgasbank, along with the state-owned PrivatBank, Oschadbank and Ukreximbank (all are based in Kyiv), to select independent members of the Supervisory Board during a competition, Taras Melnychuk, a government representative in parliament, said on his Telegram channel.

According to him, the government made the relevant changes to its resolution dated May 31, 2022, obliging to hold a competition for the positions of independent members of the supervisory boards not only for state-owned banks, but also for banks in the charter capital of which more than 50% of the shares belong to the state.

JSB Ukrgasbank was founded in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.

According to the data of the National Bank of Ukraine, as of June 1, 2022, Ukrgasbank ranked fifth among 69 banks operating in the country in terms of total assets (UAH 129.52 billion).