NBU becomes controlling shareholder in National Depository
Photo: NBU

The Cabinet of Ministers on Monday transferred the state’s stake in the central securities depository, PJSC National Depository of Ukraine, to the National Bank, government representative to the Verkhovna Rada Taras Melnychuk said.

Until now, this stake had been managed by the National Securities and Stock Market Commission.

"The National Bank has been designated as the governing body of the state’s share in the charter capital of the Central Securities Depository. Cabinet Order No. 880 of November 7, 2013, On Determining the Governing Body of the State Share in the Charter Capital of the Central Securities Depository, has been repealed," Melnychuk said.

This decision effectively gives the National Bank of Ukraine control over the National Depository. The NBU already held 25% of the shares directly and another 10.94% indirectly through its corporate private pension fund.

The newly transferred direct state stake amounts to 25%, while an additional 34.98% is held indirectly via Ukreximbank (9.99%) and Oschadbank (24.99%).

  • A central securities depository is a professional market institution responsible for recording ownership of assets such as shares and bonds.
  • The transfer of the National Depository under the NBU’s control is outlined in the memorandum on establishing a new stock exchange. The document calls for consolidating depository services in the National Depository, which will assume responsibility for the accounting and servicing of government bonds from the NBU. It will function as a central depository under the National Bank’s oversight, with the NBU as its main shareholder.
  • On September 11, NBU Governor Andriy Pyshny described the transfer of the National Depository to the National Bank as the "first step" under the memorandum.