The National Bank of Ukraine will receive management of the state share in the National Depository (NDU), which was previously managed by the National Commission for Securities and the Stock Market (NCSCFR). The relevant order was adopted at a meeting of the Cabinet of Ministers.
The document also canceled the government order of November 2013, by which the NKCPFR was designated as the body for managing the state share in the capital of NSU.
According to the YouControl service, as of the end of June 2025, the National Bank directly owned 25% of NSU shares, and another 10.93% through its own corporate pension fund. Accountable NBU Oschadbank and Ukreximbank owned 24.9903% and 9.9903% of the shares of the depository, respectively. The state’s share in the amount of 25% of the shares, which was managed by NKCPFR, will now be transferred to the National Bank. Thus, the NBU will directly control 50% of NSU shares, and taking into account the corporate pension fund – 60.93%.
The National Depository keeps records of ownership rights for all securities issued in Ukraine, except for state loan bonds (internal and external), which are maintained by the NBU depository. According to the memorandum with the EBRD, these functions will eventually also be transferred to the NSU.
Let us remind you that at the beginning of July, Ukraine and the European Bank for Reconstruction and Development (EBRD) signed a memorandum of cooperation on supporting the integrated infrastructure of capital markets in the country. It was signed by representatives of the Ministry of Economy, the Ministry of Finance, the National Bank of Ukraine and the NKCPFR.
The memorandum provides for the creation of a single holding that will unite the key institutions of the market infrastructure, the participation of the state in the new structure at the level of at least 25%, the attraction of an international strategic investor through a public tender and the launch of a new stock exchange.
