Ukraine's c.bank demands that Getin Holding and L. Czarnecki divest shares in Idea Bank

The National Bank of Ukraine is demanding that Getin Holding and Leszek Czarnecki divest registered shares in Idea Bank Ukraine, the company said in a press release on Thursday.

As reported, the Committee for Supervision and Regulation of Bank Activities, Supervision of Payment Systems of the National Bank of Ukraine has issued a decision, according to which it will apply to the owners of a significant stake in Idea Bank Ukraine measures of influence in the form of requiring Getin Holding to divest 323.072,875 registered shares of Idea Bank Ukraine (IBU) and Leszek Czarnecki to divest 145.318,179 registered shares of IBU.

The National Bank of Ukraine has set a deadline of six months for Getin Holding and Leszek Czarnecki to execute the divestment of shares, counting from the date of the decision. The decision is enforceable upon its issuance.

As reported, the basis for the decision is the Ukraine's central bank's recognition that by the date of the decision, the damage to the business reputation of Leszek Czarnecki and Getin Holding, as established by the bank's decision of March 27, 2023 (which arose as a result of the Bank Guarantee Fund's decision of September 29, 2022, to initiate forced restructuring against Getin Noble Bank), has not been remedied.

"The issuer's management board informs that it is analysing the legal implications of the decision and optimal actions to protect the investment in IBU in accordance with the applicable law," Getin Holding stated in a release.

pel/ ao/