The NBU has outlined the condition for Ukrposhta to obtain a banking license

It would be advisable to spin off the financial operations of the national postal operator “Ukrposhta” into a separate legal entity, which could then officially apply to the regulator for the appropriate license. 

This was stated by Dmytro Oliinyk, Deputy Governor of the National Bank of Ukraine. 

According to the NBU representative’s estimates, provided all requirements of current legislation are met, the newly established company could obtain a financial inclusion license in approximately nine months. The official emphasized that the National Bank is ready to provide the necessary guidance to the Ministry of Community and Territorial Development of Ukraine regarding the optimal structure for such a business. At the same time, the regulator clarified that it has not yet made any decisions regarding the granting or denial of a license to “Ukrposhta,” as the company has never submitted a complete set of official documents.

Furthermore, the National Bank categorically refuted claims that the recent decision regarding Ihor Smilianskyi’s unsuitability for the position of CEO of “Ukrposhta” was of a personal nature. The regulator’s press service noted that this conclusion was not related to personal conflicts but was the logical result of several years of comprehensive oversight, official inspections, interviews with members of the supervisory board, and lengthy consultations with the relevant ministry.

This was reported by Interfax-Ukraine.

On June 23, Ihor Smiliansky, CEO of JSC “Ukrposhta,” responded to the National Bank of Ukraine’s decision to deem him unfit to meet the professional requirements for the head of a financial institution and effectively remove him from office. He stated that he attributes this decision to attempts to block the creation of a postal bank.