The NBU fined Ukrposhta 2.5 million hryvnias
The National Bank of Ukraine took sweeping enforcement measures against the joint-stock company “Ukrposhta,” imposing a substantial fine on the company and demanding the removal of its long-time CEO.
Following a routine inspection conducted from November 2025 through January 2026, the National Bank’s Inspection Department identified numerous violations of financial market regulations.
The total fine amounted to 2,544,900 hryvnias, which the state postal operator is required to pay within 14 calendar days. In addition to the financial sanctions, the regulator issued an official written warning to the company and set a deadline of September 30, 2026, for the complete rectification of all identified licensing deficiencies.
The basis for the penalty was the company’s systematic violation of the requirements of the following regulatory acts:
the Law of Ukraine “On Payment Services”;
the Instructions on the Procedure for Organizing Cash Operations by Banks and Payment Service Providers;
Rules for the Storage, Protection, Use, and Disclosure of Confidential Information by Payment Service Providers;
Regulations on the Procedure for Issuing and Acquiring Payment Instruments.
The regulator’s most high-profile decision was its determination that Igor Smiliansky, CEO of JSC “Ukrposhta,” did not meet the strict requirements for the professional competence of a financial payment services manager. The NBU stated that the top manager had not demonstrated a sufficient level of knowledge of relevant legislation and the central bank’s regulatory framework for managing payment services. Under current law, the authorized governing body of “Ukrposhta” (the Cabinet of Ministers of Ukraine) is now required to remove Smiliansky from the company’s leadership within five business days, and within the next two months, to hold a competition and appoint a new head of the enterprise. Ihor Smilianskyi himself has already responded to the decision, calling it a personal attack by the regulator and an attempt to block the creation of an independent Postal Bank in Ukraine.
On June 23, Ihor Smilianskyi, 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 suspend him. He stated that he links this decision to attempts to block the creation of a postal bank.
