Overview
- The National Bank of Ukraine on Tuesday declared Igor Smilyansky, CEO of Ukrposhta, professionally unsuitable and started a formal removal procedure that requires his suspension within five working days and a compliant new chief within two months.
- The ruling follows multi-year supervision from 2023 to 2026 in which the NBU issued written warnings and fines for problems in payment services, financial monitoring, risk management and internal controls at Ukrposhta.
- An NBU committee said its interview with Smilyansky and the regulator’s findings show he lacks the necessary knowledge and experience to apply Ukrainian law and NBU rules to run a provider of financial and payment services.
- Smilyansky called the demand for his dismissal an effort to settle scores, said Ukrposhta will seek legal remedies and plans to inform international partners including the EBRD and IMF about the development.
- The decision has wider consequences because the government moved management of PINbank shares to Ukrposhta in January 2025, and weak governance at the postal operator could delay plans for a state-linked postal bank and affect related international financing.