Ukraine's National Bank seeks to end powers of Sense Bank supervisory board chair Hladyshenko

Andrii Pyshnyi, Governor of the National Bank of Ukraine (NBU), said that following the publication of new materials by the National Anti-Corruption Bureau of Ukraine (NABU) in the Forrest Gump case involving state-owned Sense Bank, the regulator is demanding that Mykola Hladyshenko be removed as chair of the bank's supervisory board. The NBU will also assess the suitability of the entire supervisory board.

Source: NBU Governor Andrii Pyshnyi

Quote: "The National Bank's Committee on Banking Supervision and Regulation has decided that Sense Bank supervisory board chair Mykola Hladyshenko does not meet the independence requirements established by law.

This means that Mykola Hladyshenko cannot be a member of the supervisory board and his powers must be terminated. This specifically concerns termination, not suspension."

Details: Pyshnyi said the NBU had also ordered the bank's shareholder to immediately terminate Hladyshenko's powers and elect a new supervisory board member.

After materials known as the "Mindich tapes" were made public in May 2026, the NBU began checking whether Hladyshenko met the independence criteria.

Pyshnyi said the materials were not sufficient for the regulator to make a decision, so the National Bank twice asked NABU and the Specialised Anti-Corruption Prosecutor's Office (SAPO) to provide pre-trial investigation materials. The law enforcement agencies did not provide them because of restrictions related to the ongoing investigation.

During the review, Hladyshenko voluntarily stepped aside from exercising his powers.

According to Pyshnyi, the situation changed after NABU posted materials from Operation Forrest Gump.

Quote: "They contain important facts and information from the pre-trial investigation concerning Sense Bank and its officials.

After receiving the new public information, the Committee immediately assessed it as part of the administrative proceedings that had already been opened."

Details: Following the assessment, the National Bank's Committee concluded that there were sufficient grounds to find Hladyshenko non-compliant with the independence requirements.

The NBU also opened a separate administrative proceeding to assess the collective suitability of Sense Bank's supervisory board.

Quote: "The released materials provide grounds to believe that Mykola Hladyshenko's stepping aside was merely formal and that he in fact continued to influence the bank's activities.

The supervisory board's failure to respond appropriately to this situation casts doubt on its members' ability to ensure proper oversight of the bank's activities and effectively perform their duties."

Background:

• On 19 August, NABU and SAPO posted materials from Operation Forrest Gump. According to investigators, a group of people organised the laundering of UAH 150 million (about US$3.3 million) obtained through criminal activity to post bail for former energy minister Herman Halushchenko.
• Law enforcement agencies named Sense Bank supervisory board chair Mykola Hladyshenko and the bank's CEO Oleh Stupak among those allegedly involved in the scheme.
• According to investigators, Sense Bank, companies under the group's control and individuals were used to launder the money, while plans for the transactions were coordinated with the bank's top management.
• On 29 June, bail of UAH 150 million was posted for Halushchenko.
• Ukrainian President Volodymyr Zelenskyy is dissatisfied with Pyshnyi and his possible dismissal has already been discussed.
• The Verkhovna Rada (Ukrainian Parliament) summoned Pyshnyi to a meeting on 20 August at 11:00 following the publication of the high-profile investigation by NABU.
• Prime Minister Serhii Koretskyi said that the Cabinet of Ministers (Ukrainian government) had decided to suspend Hladyshenko.

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