Sense Bank Dismisses Financial Monitoring Director and Appoints New Supervisory Board Member

Joint Stock Company “Sense Bank” has announced the addition of a new independent member to its Supervisory Board as part of the corporate governance system update, as well as the dismissal of Lyudmila Snihur, the director of the financial monitoring department.

This was reported by Delo.ua.

The financial monitoring director has been dismissed and access to the systems has been blocked.

According to the bank’s press service, the director of the financial monitoring department has had her access to the corporate network and any bank systems blocked during the period of suspension from her official duties.

“JSC ‘Sense Bank’ is interested in fully clarifying the circumstances of the case and continues to cooperate with law enforcement agencies within the framework of current legislation,” the financial institution assured.

The bank did not specify the position of the dismissed official. However, earlier the National Bank demanded the suspension of the head of the financial monitoring department of “Sense Bank,” Lyudmila Snihur.

Additionally, a new independent member, Peter Novak, with over 25 years of experience in IT and operational activities, has been added to the Supervisory Board of Sense Bank, the press service reported.

From 2007 to 2010, Novak was a member of the board of Tatra Banka in Slovakia, where he held the positions of COO and CIO.

From 2011 to 2014, he was the managing director of Raiffeisen Bank International in Vienna, responsible for international operations and IT. He also served on the supervisory boards of Raiffeisen group banks in the Czech Republic, Romania, and Hungary.

Later, Novak was part of the board of Slovak banks VUB Banka, where from 2014 to 2019 he was responsible for operational activities, and Prima Banka, where from 2019 to 2023 he held the position of CIO.

Sense Bank noted that the international banking experience of the new independent member should strengthen the Supervisory Board and contribute to the further development of corporate governance. In particular, this should help the bank prepare for privatization.

The Ministry of Finance has a clear task to activate the sales process of JSC “Sense Bank”. Proceeds from the sale of the bank will be used to finance the needs of the defense forces.

Sense Bank is a state bank: in 2023 it was withdrawn from the market and transferred to state ownership.

On August 19, the government, following the NABU and SAP case, decided to suspend the chairman of the Supervisory Board of JSC “Sense Bank,” Nikolai Gladysheko, from his duties for six months and initiated the suspension of the chairman of the board, Alexey Stupak.

After that, the National Bank’s Committee on Supervision and Regulation of Banking Activities decided that the chairman of the Supervisory Board of “Sense Bank,” Nikolai Gladysheko, did not meet the established legislative requirements for independence.

The National Bank also opened an administrative proceeding to assess the collective unsuitability of the Supervisory Board.

The National Anti-Corruption Bureau announced a new special operation – “Forest Gump” – to expose “high-level corruption.”

According to the investigation, the defendants took control of the state “Sense Bank” to use it for private interests. In particular, to pay bail for a defendant in the “Midas operation” (also known as the “Timur Mindich case”) with “criminally obtained funds.”

Law enforcement officials do not name the person for whom the bail was being collected. However, the details mentioned point to former Minister of Energy and Justice Herman Galushchenko.

In February, the VAKS took Galushchenko into custody with the possibility of bail.

Herman Galushchenko is a defendant in the large-scale “Midas operation” (also known as the “Mindich case”) aimed at exposing corruption in the energy sector. According to the investigation, businessman Timur Mindich influenced Galushchenko, and the minister was involved in money laundering.

According to law enforcement, the criminal group included:

• Deputy Head of the Office of the President of Ukraine (referring to Iryna Mudra);
• Chairman of the Board and Chairman of the Supervisory Board of the state “Sense Bank” (referring to Alexey Stupak and Nikolai Gladysheko);
• Former people’s deputy (referring to Maxim Mykytas).

On the same day, President Volodymyr Zelensky dismissed Iryna Mudra from her position as Deputy Head of the Office of the President. The corresponding decree is dated August 19.

On August 25, the High Anti-Corruption Court partially satisfied the prosecution’s motion regarding the measure of restraint for former Deputy Head of the Office of the President Iryna Mudra, who is also a defendant in this case. The court chose her detention with an alternative bail of 20 million UAH.

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