One of the few Ukrainian investment banks is considering expressing interest in bidding for the nationalized lender if the government decides to sell it after it was seized from a group of businessmen led by billionaire Mykhailo Fridman, Bloomberg reports.
Last month, Ukrainian authorities took control of Sense Bank, the country's 11th largest bank by assets, due to the application sanctions on its Russian shareholders.
Tomas Fiala, chairman and owner of Dragon Capital, said the company is actively considering the acquisition of the bank: "We are even considering teaming up with international co-investors to acquire this bank, as it is quite significant."
The increase in state influence in the banking sector has raised some concerns of the International Monetary Fund, which has called on Ukraine to sell state-controlled credit institutions.
"It will be quite rational for the government to sell the bank as soon as possible, because, firstly, this is the fifth bank under state control, and, secondly, the experience of managing state-owned banks is far from the best," Fiala said. "There is a significant risk of political influence, domestic use and political projects for which the bank can be used."
In an emailed response to questions, the Finance Ministry said it "has an interest in reducing government influence in the banking sector, so we are preparing banks, including this one, for sale."
ABH Holdings SA, the former major shareholder of Sens Bank, owned by Friedman and his partner Peter Aven, threatened legal action if the bank was nationalized. Although not a "direct risk," such a move could cause "some inconvenience," according to Fiala.
