The Central Bank of Ukraine announces plans to nationalize Russia's largest bank in Ukraine, the National Bank | Branch | Bank
On the 20th, the State Bank of Ukraine announced that it will place the Russian Alpha Bank's branch in Ukraine, Sensbank, under temporary management and initiate the nationalization process of this financial institution.
According to the Ukrainian International News Agency on the 20th, the President of the State Bank of Ukraine, Peshne, stated at a press conference held in Kiev that the board of directors of the State Bank of Ukraine has proposed to the cabinet to nationalize the bank.
Sens Bank, formerly known as Alpha Bank of Ukraine, is a branch of Alpha Bank, a major private bank in Russia. It is also the largest bank in Ukraine controlled by Russia and is listed as a "systemically important" bank by the Ukrainian State Bank.
Last September, the National Security and Defense Commission of Ukraine decided to sanction Alpha Bank of Ukraine. Approved by the Ukrainian State Bank, Alpha Bank of Ukraine was renamed Sens Bank in December last year, and the new bank's board of directors decided to remove Russian shareholders from the bank's management. In October last year and July this year, Ukrainian President Zelensky twice signed presidential orders imposing sanctions on three Russian businessmen who own actual equity in Sens Bank, freezing their assets in Ukraine.