--- title: "Cabinet Creates Commission for Sale of Sense Bank and Ukrgazbank: EU Institutions May Be Involved in Bidding" description: "The Ukrainian Cabinet has created a commission to sell state stakes in Sense Bank and Ukrgazbank. Prime Minister Koretskyi announced that international financial organizations and EU institutions may participate in the bidding." date: 2026-10-18T13:07:49.638Z lang: en url: https://xab.info/en/posts/cabinet-creates-commission-for-sale-of-sense-bank tags: [ukraine, privatization, sense-bank, ukrgazbank, finance, government] author: "Andrey Kosynko" publisher: "XAB.info" --- # Cabinet Creates Commission for Sale of Sense Bank and Ukrgazbank: EU Institutions May Be Involved in Bidding ![A man in a classical suit and glasses sits at a table during a government meeting](https://xab.info/media/2026/10/18/kabmin-sozdal-komissiyu-po-prodazhe-sens-banka-i-ukrgazbanka/kabmin-sozdal-komissiyu-po-prodazhe-sens-banka-i-ukrgazbanka-1.webp) ## Key Points - The government has established a special commission for the sale of state shareholdings in Sense Bank and Ukrgazbank. - The commission will determine bidding procedures, participant admission, starting and final prices, and submit decisions for Cabinet approval; international financial organizations and EU institutions may be involved. - According to Prime Minister Koretskyi, proceeds from the sale of Sense Bank will go to defense forces needs. - Updated strategic guidelines for the banking sector provide for the sale of both banks to investors, while PrivatBank will be sold after martial law ends. The Ukrainian government has established a special commission to prepare and conduct the sale of state-owned stakes in JSC Sense Bank and JSC Ukrgazbank. According to RBC-Ukraine, Prime Minister Serhii Koretskyi announced this in his Telegram channel. He stated that representatives of international financial organizations and European Union institutions may be involved in the commission's work. ### Commission Powers and Role of Advisors As the head of government explained, the commission will determine the bidding procedures, make decisions on admitting auction participants, coordinate the starting price taking into account advisors' recommendations, and determine the winners and the final sale price. The commission will submit the relevant decisions to the Cabinet of Ministers for approval. According to Koretskyi, the Ministry of Finance has already selected advisors for both banks. The government's objective is to create proper conditions for a transparent and competitive sale of the state shareholdings in both banks. ### Context: Nationalization and Personnel Decisions Sense Bank was nationalized due to threats to financial stability and the inability of sanctioned shareholders to support the institution's capital. In October 2025, the government decided to start preparations for the sale of state shareholdings in JSC Sense Bank and JSC Ukrgazbank. On August 19, according to Delo.ua, following an NABU and SAP case, the Cabinet suspended Mykola Gladyshenko, Chairman of the Supervisory Board of Sense Bank, from exercising his powers for a period of six months and initiated the suspension of Chairman of the Management Board Oleksiy Stupak. Subsequently, the National Bank's Committee on Supervision and Regulation of Banking Activities recognized Gladyshenko as non-compliant with statutory requirements. ### Allocation of Proceeds from the Sale Prime Minister Serhii Koretskyi reported that proceeds from the sale of Sense Bank will be channeled to finance defense forces needs. He emphasized the need to ensure maximum transparency, competitiveness, and efficiency of the process, and noted that simultaneously the Ministry of Finance and the National Bank must resolve accumulated problems in the financial institution and ensure transparent and high-quality corporate governance. ### Political Resonance Yaroslav Zheleznyak, a member of parliament from the Holos party, stated that in his opinion, Sense Bank is under the influence of individuals associated with businessman Timur Mindich and former Head of the Presidential Office Andriy Yermak. According to the MP, data analysis and materials published by journalists indicate that since nationalization, the bank may have been managed by these influence groups, between which, he claims, there is competition for influence within the structure. The government has not commented on these statements. ### Banking Sector Privatization Strategy According to the Ministry of Finance, the updated version of the Main (Strategic) Directions of Activity of State-Sector Banks for the period of martial law provides for the sale of Ukrgazbank and Sense Bank stakes to investors. The sale of CB PrivatBank shares is permitted after the termination of martial law. By the end of 2026, each state-sector bank must update its own individual strategy, and annual evaluations of supervisory boards are being introduced to enhance their efficiency. Banks are also required to reduce non-performing assets, including through the sale of the top 3 non-core assets and the resolution of the top 3 problem loans by the end of 2027. ## Fact-Check & Sources - ["Сенс Банк" и Укргазбанк готовят к продаже: Кабмин создал специальную комиссию](https://www.rbc.ua/ukr/news/sens-bank-ta-ukrgazbank-gotuyut-prodazhu-1792324943.html) - Primary source: creation of the commission, powers, involvement of international organizations, selection of advisors, nationalization context, Zheleznyak's statement. - [Укргазбанк и Сенс банк продадут инвесторам](https://korrespondent.net/business/4890733-ukrhazbank-y-sens-bank-prodadut-ynvestoram) - Updated Main Directions: sale of Ukrgazbank and Sense Bank to investors, PrivatBank after martial law, strategies until the end of 2026, NPL reduction by the end of 2027. - [Государственный Сенс Банк будет продан: средства пойдут на ВСУ — Корецкий](https://delo.ua/ru/news/gosudarstvennyi-sens-bank-budet-prodan-sredstva-poidut-na-vsu-koreckii-471117/) - Allocation of funds for defense forces, transparency, resolving issues with the NBU; October 2025 - start of preparations; August 19 suspension of Gladyshenko and initiative regarding Stupak, NBU committee decision. - [Кадровые чистки в "Сенс Банке": Кабмин отстранен глава наблюдательного совета](https://www.bagnet.org/news/politics/1402439/kadrovye-chistki-v-sens-banke-kabmin-otstranen-glava-nablyudatelnogo-soveta) - Confirms the personnel decision regarding the suspension of the Chairman of the Supervisory Board of Sense Bank. ## FAQ ### What commission did the government create? A special commission for the sale of state-owned shareholdings in JSC Sense Bank and JSC Ukrgazbank. ### What are the commission's powers? To determine bidding procedures, decide on participant admission, coordinate the starting price based on advisors' recommendations, determine winners and the sale price, and submit decisions for government approval. ### Where will the proceeds from the sale of Sense Bank go? According to Prime Minister Serhii Koretskyi, to finance the needs of the defense forces. ### When can PrivatBank be sold? According to updated strategic guidelines, the sale of PrivatBank shares is permitted after the termination of martial law.