The State Savings Bank of Ukraine, or Oschadbank ( uk, Ощадбанк), is a public

joint-stock company A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates ...

based in Ukraine. It was established by Decree of the

Cabinet of Ministers of Ukraine The Cabinet of Ministers of Ukraine ( uk, Кабінет Міністрів України, translit=Kabinet Ministriv Ukrainy; shortened to CabMin), commonly referred to as the Government of Ukraine ( uk, Уряд України, ''Uriad Ukrai ...

on May 21, 1999, through the transformation of its predecessor, the State Specialized Commercial Savings Bank of Ukraine into a Joint-Stock Company. The State Savings Bank of Ukraine is one of the largest financial institutions of Ukraine and one of three ''systemically important banks'' (including

Ukreximbank The joint-stock company State Export-Import Bank of Ukraine or Ukreximbank ( uk, Укрексімбанк) is one of three 100% state-owned ''systemically important banks'' in Ukraine (together with Savings Bank and PrivatBank). ...

and PrivatBank) nominated by

National Bank of Ukraine National Bank of Ukraine ( uk, Національний банк України) or NBU ( uk, НБУ) is the central bank of Ukraine – a government body responsible for unified state policy in the field of country's monetary circulation, includ ...

every year since 2015 when classification requirement came into force. By the end of 2016, the bank had 3,650 branches and 2,850 ATMs throughout the country which carry out various functions, such as the disbursement of pensions, social aid, processing of utility payments and other banking transactions. Together with PrivatBank, Oschadbank was one of the Ukrainian banks whose clients' time deposits are fully guaranteed by state law compared to total of ₴ 200,000 in other banks in case of bank liquidation. (However, since

martial law Martial law is the imposition of direct military control of normal civil functions or suspension of civil law by a government, especially in response to an emergency where civil forces are overwhelmed, or in an occupied territory. Use Marti ...

was declared in 2022 in response to the open, full-scale

invasion of Ukraine The territory of present-day Ukraine has been Invasion, invaded or Military occupation, occupied a number of times throughout History of Ukraine, its history. List See also *List of invasions *List of wars involving Ukraine References

...

by the Russian military, the deposit guarantee has been extended much more broadly.) According to the British magazine The Banker, in 2014 Oschadbank ranked 10th in the ranking of the largest banks in Central and Eastern Europe and 367th in the ranking of the top 1000 world banks. The head office of Oschadbank is located in Kyiv. In 2020, the bank received a net profit of UAH 2.78 billion, which is UAH 2.5 billion more than in 2019. For a long time, the bank remained the only one of 74 Ukrainian banks that was not a member of the Deposit Guarantee Fund. In April 2022, the Law of Ukraine "On Amendments to Certain Laws of Ukraine on Ensuring the Stability of the Deposit Guarantee System" came into force, which aims to increase depositors' confidence in the banking system and ensure its stability. It is within the framework of this law that Oschadbank joined the DGF.

Gallery

Image:Head of oschad.jpg,

Main office in

Kyiv Kyiv, also spelled Kiev, is the capital and most populous city of Ukraine. It is in north-central Ukraine along the Dnieper, Dnieper River. As of 1 January 2021, its population was 2,962,180, making Kyiv the List of European cities by populat ...

(2012)

Image:Oschadbank Luhansk.jpg,

Oschadbank branch in

Luhansk Luhansk (, ; uk, Луганськ, ), also known as Lugansk (, ; russian: Луганск, ), is a city in what is internationally recognised as Ukraine, although it is administered by Russia as capital of the Luhansk People's Republic (LPR). A ...

(2014)

Image:Oschadbank terminal.JPG,

Oshchadbank

Automated teller machine An automated teller machine (ATM) or cash machine (in British English) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, fun ...

Oschadbank old logo (en).png,

Former logo

References

External links

* {{Authority control Banks of Ukraine Companies based in Kyiv Ukrainian brands Ukrainian companies established in 1999 Banks established in 1999 Government-owned companies of Ukraine