The Ministry of Finance of Ukraine signed agreements with the international financial group Rothschild & Co on preparation for the sale of state-owned stakes in Ukrgasbank and Sense Bank. The company will advise the state on privatization, valuation of the banks, and search for potential investors.

The Ministry of Finance of Ukraine reported this on October 23.

Tripartite agreements were signed by the Ministry of Finance, Ukrgasbank, Sense Bank, and the British company N. M. Rothschild & Sons Limited, part of the Rothschild & Co group.

The international financial advisor was selected based on a competitive process. Rothschild & Co will work in consortium with the Ukrainian investment banking company FinPoint.

According to the agreements, the financial advisor is to carry out comprehensive preparation of both banks for sale. In particular, it will be responsible for the following:

  • Coordinating comprehensive due diligence of the financial condition and operations of the banks, including assessment of assets, liabilities, and risks.
  • Preparing recommendations for setting the starting price of the state-owned stakes.
  • Developing information materials on the banks for potential buyers.
  • Presenting Ukrgasbank and Sense Bank to international investors and finding interested participants.
  • Assisting in organizing competitive tenders for the sale of state-owned stakes.

Finance Minister Sergii Marchenko noted that engaging an international advisor is an important step in reducing state presence in the banking sector.

According to him, the government intends to ensure transparent and competitive sale of the banks, attract strategic investors, and create conditions for further development of the financial institutions.

The Ministry of Finance specifically stressed that signing the agreements does not mean a change in the banks' ownership. Ukrgasbank and Sense Bank continue to operate normally and fulfill obligations to clients, including deposit servicing.

Thus, cardholders, account holders, and depositors do not need to take any additional actions at this point. Banks will communicate any changes related to further privatization preparation on their official websites.

Preparation for the sale of the two state-owned banks began back in October 2025, when the Cabinet of Ministers adopted a corresponding order. Later that month, the government approved the procedure for engaging financial advisors, and on March 31, 2026, the Ministry of Finance announced a selection competition.

On October 20, 2026, Sense Bank signed its own tripartite agreement with the Ministry of Finance and N. M. Rothschild & Sons Limited, as reported on its official website.

Earlier, on October 18, the government established a special commission for the sale of state-owned stakes in both banks. It will determine the tender procedures, admit participants, agree on the starting price based on the financial advisor's recommendations, and submit the results for Cabinet approval.

As Kurs.com.ua previously reported, the state expects to reduce its share in the banking system by attracting private investors. The terms of existing client agreements with the banks remain unchanged.

The Rothschild & Co group has extensive experience advising governments, state-owned companies, and handling large international M&A transactions. Its British entity N. M. Rothschild & Sons Limited is registered in England and Wales, headquartered in London.

At the time of announcing the signing, the Ministry of Finance did not name potential buyers of Ukrgasbank and Sense Bank, the estimated value of the state-owned stakes, or the tender timeline. These parameters are to be determined in the next stages of privatization preparation.