July 7, 2017 / 10:53 AM / 7 months ago

Ukraine wants banking sector stake down to 20 pct in 3 yrs -finmin

LONDON, July 7 (Reuters) - Ukraine wants to cut the government’s stake in the country’s banking sector to 20 percent from its current 55 percent level in the next three years, finance minister Oleksandr Danylyuk said on Friday.

Kiev has nationalised large parts of its banking system to both keep it running as international banks have withdrawn and to try and stamp out corruption and suspect lending practices.

“My goal will be to have no more than 20 percent of the banking sector in state hands in three years,” Danylyuk said at an investment conference in London.

Danylyuk told Reuters earlier this week that the level could eventually get down to 10 percent. (Reporting by Sujata Rao, writing by Marc Jones, editing by Karin Strohecker)

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