Bank of Ukraine denies reports of approval for BTA Bank sale

The National Bank of Ukraine (NBU) officially refuted reports that it had allegedly given consent to the sale of BTA Bank. In its statement, the NBU emphasised that it had not received any applications to acquire a significant stake in this financial institution, meaning that no approvals had been granted.

Need for investor due diligence: Under current Ukrainian legislation, approving such transactions requires a thorough due diligence check of the investor and the source of their funds. The NBU noted that no such procedures had been carried out in the case of BTA Bank.

Alleged attempt to discredit: The regulator also noted that the spread of false information regarding the approval of the deal is part of a campaign to discredit the National Bank. According to the NBU, such actions are aimed at undermining trust in the decisions made concerning BTA Bank.

NBU's official position: The National Bank emphasises that any statements casting doubt on its activities in this matter are nothing more than attempts to damage the reputation of the financial regulator.