Zelensky meets with top managers of big banks in Ukraine

Bankers expressed willingness to cooperate with the new government.

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Ukraine's President-elect Volodymyr Zelensky has met with top managers of leading Ukrainian banks with foreign investment and representatives of the Independent Association of Banks of Ukraine.

The future president outlined priorities in the banking sector, namely measures to ensure macroeconomic stability through the independence of the National Bank of Ukraine (NBU), cooperation with the International Monetary Fund, and a balanced policy in public finances, according to the press service of his political team.

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"The newly elected president supported the opinion of the banking community that judicial reform and the protection of the rights of investors and lenders are the cornerstone for ensuring economic growth and attracting foreign investment. He stressed the need to ensure transparent and equal rules of the game for both private and state banks. Moreover, he spoke out for the reform of corporate governance in state-owned banks, which would eliminate the political influence on them," the press service said in a statement.

In addition, Zelensky expressed the hope for a reduction in interest rates on bank loans both for corporate business and for households, which will help develop the economy.

"A reduction in interest rates on loans will be the impetus for economic growth. Because now people are scared and do not trust banks," the newly elected president said.

Bankers, in turn, expressed willingness to cooperate with the new government. In particular, Chairman of the Forum for Leading International Financial Institutions (FLIFI) Taras Kyrychenko said that bankers expect support from the future president and further reforms, which were initiated by the NBU, reform of the judicial system and the search for points of economic growth.

"In the current situation it is extremely important that banks lend more to the real economy, to make loans more affordable for responsible borrowers and households. To do this, the judicial reform must be implemented in full along with providing maximum protection to investors and creditors of the Ukrainian economy," Kyrychenko said.

The meeting was attended by top managers of Raiffaisen Bank Aval, Pravex Bank-Intesa Sanpaolo, UkrSibbank-BNP Paribas, Credit Agricole, Citigroup, SEB, Piraeus, Credit West Bank, ProCredit Bank, Alfa Bank, Deutsche Bank, and representatives of the Independent Association of Ukrainian Banks.

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