Purchasing a Ukrainian Bank: Obtaining Approval from the National Bank of Ukraine
Andrii V. Zharikov, an associate with DLF attorneys-at-law
In 2015 Ukrainian legislation related to the acquisition of a significant shareholding in a bank was substantially amended. This was due to the harmonisation of Ukrainian legislation with EU legislation. Changes were, therefore, made to the laws of Ukraine as to the transparency of ownership structure, including the ultimate beneficiaries, of banks, increase in the liability of shareholders and related persons of the bank, etc. This article discusses the current procedure for obtaining approval from the National Bank of Ukraine on acquisition of a significant shareholding in a bank and provides practical comments in relation to some aspects of this procedure...
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