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"We expect that from 2018 Oschadbank will become participant of the fund. It is already planned. This will be additional payments to the fund," he said, adding that in global practices all banks are participants of similar funds.

As reported, the reform of state-run banks envisages partial privatization of Oschadbank in the middle of 2018.

"One of the key elements of the state-owned banks reform is partial privatization of Oschadbank and Ukreximbank by the middle of 2018: after selling 20% of shares the state would retain a controlling stake of 80% and receive more transparent and effective management," the ministry said in a press release.

On November 25, 2016 Oschadbank and the European Bank for Reconstruction and Development (EBRD) signed a Memorandum of Understanding (MoU) to support reforms at the bank and an agreement providing guarantees of up to EUR 50 million to the bank under the Trade Facilitation Programme (TFP).

Under the memo Oschadbank would receive a comprehensive package of technical assistance from the EBRD at the first stage aimed at developing crediting of micro, small and medium-sized enterprises, centralization and optimization of its network's departments, risk management and compliance.

The Finance Ministry said that this would help to increase the bank's value and its attractiveness for investors.

Oschadbank was founded in 1991. Its sole owner is the state.

Oschadbank ranked second among 108 operating banks in the country on October 1, 2016 by total assets (UAH 191.585 billion), according to the National Bank of Ukraine.

FM-TV

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