Sense Bank establishes working group to prepare the bank for privatisation

In line with recommendations from the Government of Ukraine and the Ministry of Finance of Ukraine, the Supervisory Board of Sense Bank has resolved to establish a working group to prepare the state-owned financial institution for privatisation, which has now begun its work.

The working group will oversee the engagement of a sale advisor — currently being selected through a tender run by the Ministry of Finance of Ukraine — and will lead the subsequent preparation of the bank's shareholding for sale. It will also conduct an operational review of Sense Bank's corporate governance structure, financial reporting and data processing practices against the requirements of international institutional investors; a liabilities audit, including analysis of the bank's key obligations and identification of covenants; prepare the corporate, legal and financial documentation required for review by the sale advisor and prospective buyers; and consolidate information on the bank's capital structure, loan portfolio quality and potential risks to the institution's operations.

The working group will report regularly to the bank's Supervisory Board and to the Ministry of Finance, ensuring that preparation for privatisation moves at pace, that all processes are effectively coordinated, and that Sense Bank is brought to a transaction with potential investors as swiftly as possible.