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The Government Approved the Principles of Strategic Reform of State-Owned Banks

On September 2, 2020, the Government approved the proposed by the Ministry of Finance of Ukraine version of the strategy for reforming the state banking sector. 

In accordance with the Principles of Strategic Reform of the Banking Sector approved by the Government, the state in particular plans to: 

  • implement strategies for each state bank;
  • by 2025, reduce the state's share in the banking sector from 60% to 25%; 
  • reduce the share of non-performing assets on the balance sheets of state-owned banks;
  • to defend and support the implementation of corporate governance reform with a majority of independent members of the supervisory board, ensuring the necessary level of accountability. 

«The government remains committed to its goal that is to build a reliable and competitive banking system. Today, when the reform of corporate governance of state-owned banks in Ukraine is completed, we have updated and strengthened the strategic principles of reforming state-owned banks», - commented Yuriy Draganchuk, Deputy Minister of Finance of Ukraine.