The Minister of Finance Oksana Markarova has acknowledged that there is a strategy in which the government will get rid of existing banks. For 3 years it is planned to sell Privat.
In an interview with NV Business she explained that the strategy of working with banks is in the entry of investors into the capital and return banks to the commercial sector. This year Ukraine sells UGB. His investor – IFC.
With PrivatBank harder. But the challenge is to carry out a full exit of the state from its capital. The problem is the investor. Apparently, due to the attempts of the former co-owner of Kolomoisky, the queue of wanting to be seen.
“To someone to sell something it is necessary that someone bought,” said the Minister.
She admits that “price is always connected with risk.” According to Markarova, “it is necessary to reach the decision of some current lawsuits”. Without this chance is not for sale. In fact, she believes that in three years will be able to resolve “not only the economic and financial situation” with the Bank’s performance.
Ukrainian authorities do not intend to keep all existing state-owned banking sector. In its development strategy provided clear steps to the terms of sale. The government is going to implement not only PrivatBank and Ukrgasbank, but part of the shares of the Bank. According to this strategy, international investor, sell Privat in 2022. Who is the buyer? It is not specified. It is only known that the criterion for the sale of “Privat” – 8,4 billion UAH of net profit, and total profit for the shareholders in the period from 2018 to 2022 81 billion UAH.
For sale expose and 45% of the Bank. Until 2020 it should become profitable, and by 2022 the rate of return on equity should reach about 12%. In addition, cut and shut a number of unprofitable Bank branches. With the sale, Owed somewhat clearer. It is planned that 20% of the shares will be acquired by one of the international financial institutions, and 25% sell through an initial public offering (IPO).
That will remain in the state? Ukraine will retain the largest share – 80-100% in Ukreximbank.
We will remind, this year the Cabinet of Ministers became the owner of 100% of PrivatBank, which gave the government the Ministry of Finance. According to the NBU, on September 25, 2019 the owner of 100% of PrivatBank it was stated “the state represented by the Cabinet of Ministers”, while on January 1, 2019 – “the state represented by the Ministry of Finance.”
The Cabinet is also the owner of 100% stake in Oschadbank and Ukreximbank. The Finance Ministry owns 94,94% of the shares of Ukrgasbank (the rest of 5.06% is owned by minority shareholders).