Ukraine is moving forward with the nationalization of Sens Bank, a financial institution currently controlled by Russian investors Mikhail Fridman and Petr Aven. The move, reported by a major agency citing sources familiar with the plan, is slated to take place in mid-July. The decision reflects Kyiv’s broader strategy to secure the stability of its banking system during wartime and to reduce exposure to foreign ownership in critical financial institutions.
Officials stated that the nationalization process targets Sens Bank, which previously operated under the Alfa-Bank Ukraine brand and was linked to Russian-origin shareholders. The transition is described as a concrete step intended to ensure continuity of essential banking services for Ukrainian customers and businesses while aligning ownership structures with national security and economic resilience goals during martial law.
In related developments, the Ukrainian presidency has asserted authority over the framework governing the nationalization of systemically important banks. President Volodymyr Zelensky recently signed legislation that defines the procedures for nationalizing systemically important financial institutions during times of national emergency, clarifying the legal basis for such interventions and the steps involved in safeguarding the financial system and public confidence.
According to the National Bank of Ukraine, the landscape of systemically important banks in the country includes a defined set of institutions that are crucial to payment systems, credit provision, and financial stability. The list comprises A-Bank, Alfa-Bank Ukraine, Kredobank, OTP Bank, Oschadbank, Yuzhny, PrivatBank, Pumb, Raiffeisen Bank, Taskombank, Ukrgasbank, Ukreximbank, UkrSibbank, and Universal Bank. These institutions play a pivotal role in servicing households and businesses, and government oversight emphasizes maintaining credible governance, transparency, and resilience against shocks.
Past events in Crimea and other regional contexts have added layers of complexity to the financial sector, including discussions around asset disposition and the regulatory treatment of property linked to business activities associated with international investors. In the current environment, the emphasis remains on ensuring that any asset transfers or restructurings are conducted with clear legal footing, robust governance, and safeguards for depositors and counterparties. Authorities continue to monitor developments closely, balancing the imperative of national sovereignty with the need to maintain access to financial services and a stable banking system for the Ukrainian economy.