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Ukrainian authorities nationalize former Alfa-Bank Ukraine

Ukraine (, - Ukrainian authorities have begun the nationalization of the former Alfa-Bank Ukraine, renamed Sens Bank, which has shareholders of Russian origin. This was stated on Sunday by the adviser to the head of the office of the President of Ukraine Mikhail Podolyak.

“Alfa-Bank (Alfa-Bank Ukraine) has already been rebranded, it is already Sens Bank today. They are already undergoing procedures for nationalization as such,” Podolyak said on the air of a news marathon, which is shown on leading Ukrainian TV channels.

He added that the nationalization of Alfa-Bank Ukraine would be less difficult than the nationalization in 2016 of Ukraine's largest Privatbank, owned by businessman Igor Kolomoisky.

“The nationalization of Alfa-Bank does not look the same as Privatbank, because there (in Alfa-Bank Ukraine) there is a much smaller circle of individuals with deposits and so on,” Podolyak said.

According to him, the procedure for the nationalization of Sens Bank is taking place in accordance with the law, there is no panic among depositors and legal entities associated with this bank.

Alfa-Bank Ukraine announced earlier that it had completed the legal procedures related to the renaming, and from December 1 continued to work under the name of Sens Bank. Alfa-Bank is one of the largest private banks in Russia. As of the end of 2021, he ranked fourth in the Russian Federation in terms of assets. On April 6, against the background of Russia's special military operation in Ukraine, the US authorities announced that they were imposing full blocking sanctions against Alfa-Bank.

The National Bank of Ukraine stated at the time that the US sanctions imposed against the Russian Alfa-Bank do not apply to Alfa-Bank Ukraine. At the same time, the National Bank stated that in relation to the shareholders of Alfa-Bank Ukraine - citizens of the Russian Federation - "it applied measures of influence in the form of a ban on the owners of a significant participation in a joint-stock company to use the right to vote." Control over the credit institution was transferred to a special committee of four newly appointed independent directors - citizens of Ukraine, and citizens of the Russian Federation filed applications for resignation from the board of directors. As emphasized, Alfa-Bank Ukraine is not a subsidiary of the Russian Alfa-Bank, and there is no share of Russian state-owned banks in its capital.

Ukrainian authorities nationalize former Alfa-Bank Ukraine