Ihor Smiliansky explained why Nova Poshta Bank will not replace Ukrposhta
Ihor Smilianskyy posted his views on Facebook.
Ihor Smelyansky, CEO of Ukrposhta, commented on reports that the Nova Group, which includes Nova Poshta, may acquire BTA Bank and establish a financial inclusion bank based on it.
Nova is in talks to buy BTA Bank. Formally, the acquisition documents have not yet been submitted, but according to the publication, the parties have already signed a memorandum of understanding regarding a future deal. The process could be completed in August 2026.
The National Bank has confirmed Nova Poshta’s interest in banking activities, specifically in the role of a financial inclusion bank. At the same time, the deal itself has not yet been finalised.
What Ihor Smilianskyi said
Smiliansky stated that following the news about a possible Nova Poshta bank, he received many messages from people. According to him, they wrote that Ukrposhta had been promoting the idea of a financial inclusion bank for years, but another company might be the first to implement such a model.
The head of Ukrposhta noted that he is proud that the law on financial inclusion will come into effect. He emphasised that the aim of this model is not competition between operators, but access for Ukrainians to basic financial services.
According to Smilianskyi, this primarily concerns people living in villages, frontline communities and other places where there is insufficient banking infrastructure.
Why, in Smilianskyi’s view, Nova Poshta will not replace Ukrposhta
Smiliansky believes that Nova Poshta will not be able to reach the same number of people as Ukrposhta. He explained this by the difference in the infrastructure of the two companies.
According to him, Ukrposhta has over 10,000 postmen and a network of mobile branches. It is this network, in Smiliansky’s view, that enables them to serve people in small settlements where there are no banks or ATMs.
He also criticised the National Bank, stating that, in his view, the regulator had previously found reasons not to allow Ukrposhta to establish a financial inclusion bank. Smiliansky presented this assessment as his own personal view.
What is known about Nova Poshta’s plans
According to “Ekonomichna Pravda”, the Nova Group plans to restructure BTA Bank’s operations following its acquisition. This involves potentially relinquishing its full banking licence and transitioning to a financial inclusion bank model.
BTA Bank is described as one of Ukraine’s smallest banks. According to industry media, its assets amount to around UAH 295 million, and its capital exceeds UAH 204 million.
In comments to the media, Nova Poshta and BTA Bank did not confirm the details of the potential deal, citing the confidentiality of the negotiations. Therefore, at this stage, we are talking specifically about plans and information from sources, rather than a completed acquisition.
What is a financial inclusion bank?
A financial inclusion bank is an institution with a limited banking licence. This format is provided for by the law on the development of financial inclusion, which aims to expand access to financial services for people in communities with insufficient banking infrastructure.
Such banks will be able to provide basic services to the public, but will operate with restrictions. In particular, they face restrictions on lending to large businesses, securities transactions and certain types of activity in the financial market.
For Nova Poshta, this model could be a way to expand the financial ecosystem around NovaPay. In particular, the banking model could give the company more opportunities for deposit, payment and other financial services.
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