"The government has transferred shares of the 'First Investment Bank,' previously owned by Russian oligarchs, to the Ministry of Community and Territorial Development, with a subsequent handover to 'Ukrposhta,'" the statement reads.
Prime Minister Denys Shmyhal, whose speech transcript was published by the press service, explained that "this way we are creating a postal bank."
"Ukrposhta" has branches in every corner of the country, which will provide Ukrainians who do not use digital tools with new opportunities. Receiving assistance, social benefits, ordering goods and medicines will now be within walking distance," he emphasized.
According to the head of government, this decision will also "save the state up to 5 billion UAH over the next three to four years."
In the context of improving the infrastructure "through which people receive assistance from the state," Shmyhal mentioned the payments of 1,000 UAH as part of the "Winter eSupport" program.
"The 'Winter eSupport' program demonstrates high efficiency. More than 12.6 million Ukrainians have applied for assistance, and over 11 million have already received 1,000 UAH," the Prime Minister stated.
Later, the government explained that this pertains to the establishment of an institution called "Ukrposhta Bank," which will operate based on a special limited banking license.
"It is expected that this institution will become one of the leaders in the number of branches and, in the future, aims to be among the top five largest banks by the number of clients, relying on the already existing base of over 6 million active users of 'Ukrposhta' services," the release stated.