The Cabinet of Ministers is transferring shares of the First Investment Bank to the Ministry of Community and Territorial Development of Ukraine for the establishment of a postal bank, announced Prime Minister Denys Shmyhal.
"Today, the government has decided to transfer the shares of the First Investment Bank, which were previously owned by Russian oligarchs, to the Ministry of Infrastructure (Ministry of Development - IF-U), with a subsequent transfer to 'Ukrposhta'. This is how we are creating a postal bank," said Shmyhal during a government meeting on Tuesday.
According to him, "Ukrposhta" has branches in every corner of the country, which will provide new opportunities for Ukrainians who do not use digital tools.
"Receiving aid, social benefits, ordering goods and medicines will now be within walking distance. Additionally, this decision will save the state up to 5 billion UAH over the next 3-4 years. These funds will be directed towards financing priority budget items," the Prime Minister added.