The Government has handed over PIN Bank's stock Ukrposhta

The Ukrainian government has made an important decision to establish a post office on the basis of shares of the first investment bank, which previously belonged to the Russian oligarchs. Prime Minister Denis Shmigal announced this step during a government meeting, noting that the new bank would provide access to financial services throughout Ukraine.

PINs of the Bank, which were confiscated from the Russian businessman Yevgeny Giner in 2023, were transferred to the Ministry of Infrastructure with the subsequent transfer of Ukrposhta. This step aims to create a post bank that will use an existing network of Ukrposhta branches across the country.

“Thanks to this decision, we will provide Ukrainians with new opportunities to receive financial services. UkrPoshta has a branch across the country, which will provide access to banking services even to those who do not use digital tools, ”Shmigal explained.

It is expected that the creation of a post office will save up to UAH 5 billion over the next 3-4 years. These funds will be aimed at financing the priority articles of the state budget.

Shmigal also stressed that thanks to the new bank, Ukrainians will be able to receive social benefits, assistance and order goods and medicines without the need to travel long distances, as all these services will be available in pedestrian accessibility.

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