Sense Bank and Ukrgasbank being prepared for sale: What will happen to clients' accounts and deposits
In Ukraine, two major state-owned banks — Sense Bank and Ukrgasbank — are being prepared for sale. The government has created a special commission that will organize the auctions, determine the starting price, and select buyers. But what does this mean for the millions of people who keep their money there, receive salaries, or repay loans?
The new Cabinet of Ministers decision became known on October 18. As reported by the government, the Ministry of Finance has already selected advisors to prepare the sale of both banks.
It is important to understand: the banks have not been sold yet, their new owners are unknown, and today's decision does not require any action from clients.
What will happen to money, cards, and deposits
The main question for clients is whether anything will change after the bank is sold to a private investor.
The creation of the commission itself does not affect existing banking agreements. Clients do not need to close accounts, transfer deposits to other institutions, or repay loans early.
Moreover, the sale of bank shares does not mean the cessation of its activities. The bank remains the same legal entity, and a change of shareholder in itself does not cancel obligations to depositors and borrowers.
Sense Bank previously separately assured clients that the preparation for privatization does not affect the ordinary operation of the institution. The bank continues to fulfill its obligations and ensure continuity of service.
In particular, this means that:
- Deposits. Preparation for sale is not grounds for changing the terms of existing deposits. The bank's obligations to depositors remain.
- Bank cards and accounts. The decision to create a commission does not provide for their closure or replacement.
- Loans. Borrowers continue to repay debts under existing agreements. A change of bank ownership in itself does not mean an automatic change in the interest rate.
- Tariffs and services. In the future, the new owner may initiate changes to banking products, but such decisions must comply with legislation and contractual terms.
Thus, at the moment, nothing changes for clients of both banks. Banks will have to inform separately about possible changes after the completion of privatization.
When will the banks be sold and who will be the new owner
Despite the creation of the commission, specific terms for the sale of Sense Bank and Ukrgasbank have not yet been announced.
The names of potential buyers and the starting price of state-owned share packages are also unknown.
First, it is necessary to prepare tender conditions, determine requirements for participants, and agree on the price taking into account the recommendations of financial advisors.
Then the commission will consider applications, determine winners, and submit the relevant decisions for government approval.
Representatives of international financial organizations and institutions of the European Union may be involved in the work of the commission. This should ensure additional transparency of the process.
According to Prime Minister Serhiy Koretskyi, the government's goal is to create conditions for an open and competitive sale of both banks.
Why has the state decided to sell Sense Bank and Ukrgasbank
Ukraine has been planning for several years to reduce the state's share in the banking sector. The sale of banks should attract private investors, strengthen competition, and provide revenues to the state budget.
Moreover, the two institutions have different histories.
Sense Bank previously operated under the name Alfa-Bank Ukraine. In July 2023, it was nationalized due to the ties of previous owners with Russia. Since then, the bank has been owned by the state.
In August 2026, the government instructed to accelerate its sale. At the same time, the Prime Minister stated that the funds from the sale of Sense Bank would be directed to financing the needs of the Defense Forces of Ukraine.
Ukrgasbank is also under state control and is included in the list of banks planned to be transferred to investors.
The authorities expect that attracting new owners will reduce the state's presence in the banking market without harming its stability.
What exactly did the Cabinet decide on October 18
Preparation for privatization did not begin today. Back on October 1, 2025, the government decided to prepare the state-owned shares of Sense Bank and Ukrgasbank for sale.
In March 2026, the Ministry of Finance announced a tender to select advisors who should accompany the deals and help find investors.
Now the process has moved to the next stage — the creation of a commission responsible for organizing the auctions.
According to the Ministry of Finance's announcement, the commission will establish the bidding procedure, admit participants, approve the starting price, and determine winners.
To prevent conflicts of interest, additional restrictions are provided: commission members must vote in person and openly, and in the event of a conflict of interest, they must not participate in making the relevant decision.
Do clients need to do anything now
At the current stage — no. The creation of the commission does not change the client service procedure and does not mean an immediate change of owners.
Owners of deposits, cards, and loans just need to monitor official announcements from their banks. Decisions to transfer money or close deposits early should be made based on one's own financial circumstances and contract terms, and not solely because of news about preparation for privatization.
The main change on October 18 concerns not clients, but the sale procedure: the state has formed a body that will determine tender conditions and select potential new owners of Sense Bank and Ukrgasbank.
When the auctions will take place, how much investors will pay, and who will ultimately gain control over the banks will become known later.
Based on materials from: Cabinet of Ministers of Ukraine — decision of October 18, 2026, Ministry of Finance of Ukraine — procedure of the commission's work, Sense Bank — statement on continuity of client service, Cabinet of Ministers — on directing funds from the sale of Sense Bank to defense.
