AUB News

Andriy Dubas, President of the Association of Ukrainian Banks (UBA), and Petro Pekur, Vice President, took part in the 60th meeting of the European Banking Federation (EBF) Associate Members in Brussels. The participants discussed key issues of banking sector development in the context of global challenges, expressed support for Ukraine in its fight against Russian aggression and confirmed the need for further reform of the Ukrainian financial sector in line with EU standards.

On October 16, the 60th meeting of the Associate Members of the European Banking Federation (EBF) took place in Brussels, attended by representatives of national banking associations from Turkey, Serbia, Germany, the Netherlands, Hungary, Bosnia-Herzegovina, Macedonia and Montenegro. Ukraine was represented at the event by the Association of Ukrainian Banks (AUB), headed by President Andriy Dubas and Vice President Petro Pekur.

The European Banking Federation was represented at the meeting by:

• Wim Meys, CEO of the EBF
• Sebastian de Brouwer, Deputy Director General of the EBF
• Inel Burchak, Director of Sustainable Development Finance at EBF
• Blazej Blasikiewicz, Director of Legal, International and Social Affairs, EBF
• Elko Dubbeling, Chairman of the EBF Executive Committee.

During the meeting, AUB President Andriy Dubas made a presentation on the state of the Ukrainian banking system in the context of the war. He emphasized the challenges faced by Ukrainian banks, in particular, those related to macroeconomic instability and the need to support business and the population during the war. At the same time, he emphasized the important role of the National Bank of Ukraine (NBU) as a regulator that successfully stabilizes the banking system, ensures financial stability and confidence in the national currency.

Andriy Dubas also drew attention to the threat posed by the Government's initiative to retroactively increase the taxation of banks. According to him, this may negatively affect the stability of the banking system, reduce the investment attractiveness of the financial market and worsen business conditions due to tax uncertainty. The UAB has already appealed to the Government and the relevant Parliamentary Committee to reconsider this initiative. At the same time, the NBU and the IMF share the position that a tax increase could have significant negative consequences for the future of the banking system.

The meeting featured an active discussion of the prospects for the digital euro and the introduction of the latest technologies, such as artificial intelligence, into the financial sector. Representatives of the European Banking Federation emphasized the importance of improving the financial monitoring system, digitizing payments, and developing sustainable finance infrastructure. In addition, the participants supported the initiative to develop a financial education strategy to improve financial literacy among the population.

Special attention was paid to the situation in Ukraine. The participants expressed their unequivocal support for Ukraine, which continues to resist Russian aggression, and emphasized the importance of dialogue between European banks and the Ukrainian financial sector in the context of European integration. The parties also discussed reforming Ukraine's banking sector in line with EU standards. Andriy Dubas noted that Ukraine consistently fulfills the requirements of the EU-Ukraine Association Agreement in the field of finance, and this is an important step towards integration into the European market.

Representatives of the European Banking Federation (EBF) and other participants of the meeting expressed their readiness to deepen cooperation with Ukrainian banks and provide support in reforming the financial system. The joint work of the Association of Ukrainian Banks and the European Banking Federation is aimed at integrating the Ukrainian banking sector into the EU financial ecosystem.

Through participation in such meetings as the 60th EBF Associate Members Meeting, the UBA continues to work on strengthening partnerships with the European banking community and contributes to accelerating the European integration of Ukraine's financial sector.