Sense Bank explained why it cannot yet dismiss Stupak
State-owned Sense Bank received a demand from the National Bank of Ukraine to take urgent measures to terminate the powers of CEO Oleksiy Stupak. However, such a decision can only be made by the bank's supervisory board, which currently does not have the necessary quorum to hold valid meetings.
This was stated in Sense Bank's announcement on the corporate governance situation, published on September 3.
The bank reported that the NBU recognized Stupak as not meeting the qualification requirements regarding professional suitability and demanded urgent measures to terminate his powers.
At the same time, the decision to dismiss the CEO falls within the exclusive competence of the supervisory board. Its composition is currently being updated, and to restore the quorum, the approval of new members by the National Bank must be completed.
In August, the NBU already approved one independent member of Sense Bank's supervisory board — international banker Peter Novak. The bank expects the regulator to approve two more recently appointed members.
Sense Bank explained that after at least one of them takes office, the supervisory board will have the necessary composition to hold valid meetings. It will then be able, in particular, to consider the termination of Stupak's powers.
Earlier, on August 20, NBU Governor Andriy Pyshnyi stated in the Verkhovna Rada that Sense Bank's supervisory board had lost its quorum and was not authorized to act. He called the situation unacceptable for a state bank and called on the state as the owner to promptly restore the board's operability.
On August 21, the Cabinet of Ministers updated the composition of Sense Bank's supervisory board by appointing a new state representative. However, for the full participation of new members in the board's work, the prescribed approval procedures with the regulator must be completed.
Stupak himself is not currently performing the duties of CEO. The bank stated that all officials mentioned in the materials published by NABU on August 19 have been suspended from their duties and have no access to the bank's management.
Regarding Stupak, the court imposed a preventive measure in the form of bail and imposed a number of procedural obligations on him.
The duties of Sense Bank CEO are currently performed by Olena Zubchenko. The bank emphasized that it continues to operate normally and fully fulfills its obligations to customers and partners.
The corporate crisis at Sense Bank is unfolding against the backdrop of anti-corruption investigation materials published by NABU in August. After their appearance, the National Bank began assessing the activities of the state bank's management bodies and demanded personnel decisions.
Based on materials from: Sense Bank
