An open conflict is brewing in the Ukrainian financial sector between the state postal operator and the National Bank. The trigger for the escalation was a tough decision by the regulator: the National Bank of Ukraine (NBU) declared the General Director of Ukrposhta, Igor Smelyansky, professionally unfit and demanded his removal from office within five days.

The decision was made following an audit of the company's activities, which revealed systemic violations recorded between 2023 and 2026. The regulator's special commission concluded that the current head lacks the necessary knowledge of legislation and management experience to run a payment service operator.

Official position of the regulator: license was not considered

The NBU press service categorically refuted the version that the administrative prosecution of Smelyansky is linked to Ukrposhta's ambitions to create its own bank. In a comment to RBC-Ukraine, the regulator emphasized that the investigation was initiated back in November 2025.

According to representatives of the financial regulator, Ukrposhta has never submitted an official package of documents to the National Bank to obtain a banking license. Furthermore, the NBU stated that there are currently no objective prerequisites for the implementation of such a project:

  • The company has not formed adequate capital for banking activities;
  • There is no approved development strategy;
  • The corporate governance system does not meet standards; in particular, a full-fledged independent supervisory board has not been formed.

"The NBU could not make any decisions regarding such a license, as it was not requested," the press service summarized.

Counterattack: "Settling personal scores" and corruption

Igor Smelyansky categorically disagrees with the regulator's conclusions. The head of the postal operator links the NBU's actions to the impending entry into force of the law on banks of financial inclusion. In his opinion, every time Ukrposhta takes a step towards creating its own financial institution, the regulator finds ways to hinder it.

Smelyansky could not restrain his emotions regarding the NBU leadership, accusing them of unlawful actions, corruption, and settling personal scores. He claims that the conflict has gone far beyond a professional discussion and has turned into a public war.

Economic subtext: the fight for the market

The tension in relations between the postal operator and the regulator has a clear economic subtext. Ukrposhta has huge potential to open its own bank, which could lead to a significant outflow of customers from the state-owned Oshchadbank and PrivatBank. It is precisely this factor, according to experts, that became one of the main reasons for the confrontation, which today has resulted in administrative pressure on the company's management.