Strengthening corporate governance in state-owned banks is NBU’s priority – Shevchenko

Strengthening corporate governance in state-owned banks is NBU’s priority – Shevchenko

Ukrinform
Governor of the National Bank of Ukraine (NBU) Kyrylo Shevchenko and U.S. Charge d'Affaires a.i. in Ukraine Kristina Kvien discussed reforming corporate governance in state-owned banks, continuing cooperation with international partners, in particular the IMF, as well as strengthening cooperation between Ukraine and the U.S.

Shevchenko noted that strengthening corporate governance and reducing the NPL ratio in state-owned banks is indeed a priority for the NBU, the Bank’s press service reported.

"Last week, we started the cycle of meetings with the supervisory boards of state-owned banks. I reiterated the NBU’s support of corporate governance. After all, a properly built corporate governance system improves a financial institution’s performance. We also need to address the issue of NPLs in state-owned banks, which is painful, but we will continue to work to resolve it," Shevchenko said.

"We were very glad to hear that you plan to continue the NBU’s consistent policy. We are pleased that we are "on the same page" on the issue of corporate governance reform in state-owned banks, which the NBU is going to proceed with and strengthen. We also are glad that you are ready to address challenges such as the significant share of nonperforming loans in state-owned banks," Kvien noted.

Kyrylo Shevchenko and Kristina Kvien discussed the strengthening of cooperation between Ukraine and the U.S., including in cybersecurity.

In addition, Shevchenko mentioned the NBU’s plans to promote sustainable development of the state, as well as "green" banking, in Ukraine. The NBU plans to join the Network for Greening the Financial System and Sustainable Banking Network.

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