The National Bank of Ukraine is set on reforming itself and reforming the entire banking system, said the new chairman of the National Bank of Ukraine, Stepan Kubiv, at a press briefing on March 21.

“The main goal of recent changes is to define clear objectives and functions.” Kubiv said. “As a result, we will be holding open competitions to fill positions from the existing talent pool and from the country’s banking system. You will definitely see changes. They will not be revolutionary in character, but they will be effective,” he said. He added that the combined experience of bankers from both the public and private sectors will be reflected in the personnel changes and will help stabilize the situation in the banking sector.

In addition, the NBU head also announced the appointment of Volodymyr Krotyuk for the post of first deputy chairman of the NBU. Krotyuk, who has many years of experience in the Central Bank and other banks in Ukraine, will be responsible for banking supervision, bank licensing and registration and financial monitoring.

Kubiv also announced that Ihor Sorkin, advisor to the chairman of the National Bank of Ukraine and the former head of the Bank, has been dismissed from his post. Also dismissed were Oleksiy Tkachenko, the deputy head of NBU, Nataliya Synyavska, the director of the General Department of Information Technology and Payment Systems, and Roman Yakovlev, director of the Department of Banking Supervision.

As reported previously, Ihor Sorkin was suspended from his duties as chairman of the NBU at the end of February 2014 by a decision of the Verkhovna Rada and Stepan Kubiv was named the new head of NBU. However, Sorkin had remained employed as adviser to the head of NBU.

Ihor Sorkin was appointed head of NBU on January 11, 2013, by former president Viktor Yanukovych. Since July 15, 2010, he worked as deputy chairman of the NBU, and then, from December 2012, as acting chairman of the NBU.

According the website of the Russian company Gazprom, Ihor Sorkin’s father, Vyacheslav Sorkin, is the deputy head of the Department of Capital Construction at Gasprom. The Russian gas monopoly has been active since 2002.


Translated by Anna Mostovych

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