JSC STATE SAVINGS BANK OF UKRAINE

JSC STATE SAVINGS BANK OF UKRAINE

Oschadbank, also known as the State Savings Bank of Ukraine is a publicly traded enterprise with its headquarters in that country. The State Specialized Commercial Savings Bank of Ukraine, its predecessor, was converted into a joint-stock company on May 21, 1999, by decree of the Cabinet of Ministers of Ukraine. One of the country’s biggest financial institutions, the State Savings Bank of Ukraine is one of the three systemically important banks—along with Ukreximbank and PrivatBank—that the National Bank of Ukraine has named annually since the classification requirement went into effect in 2015. The bank operated 3,650 locations and 2,850 ATMs nationwide as of the end of 2016, handling a variety of tasks such the processing of utility payments, social assistance, pension payments, and other banking operations. In comparison to the total of 200,000 in other banks in the event of bank liquidation, Oschadbank and PrivatBank are the only two Ukrainian banks whose clients’ time deposits are fully insured by state legislation. (en)

JSC STATE SAVINGS BANK OF UKRAINE is a public state-owned bank integrated at the level of national system. The Bank has been created in accordance with the Law “About JSC STATE SAVINGS BANK OF UKRAINE”, dated 18 May 2010 № 464-VI and amending 11 of the Federal Law about State Savings Banks, dated 23 December 1995 №1395-I, as well as another law dated 23 June 2013 № 149-VIII.

JSC STATE SAVINGS BANK OF UKRAINE

Table of Contents

JSC STATE SAVINGS BANK OF UKRAINE

The bank has branches in all regions of Ukraine, as well as representatives abroad. The State Savings Bank is a member of the International Association of Deposit Insurers and National Bank of Ukraine.

This chapter will introduce you to the structure of JSC STATE SAVINGS BANK OF UKRAINE, which includes its departments and functions.

1. General Provisions

JSC STATE SAVINGS BANK OF UKRAINE (the Bank) is a universal bank that has been operating since 1997. It is a member of the National Bank of Ukraine and has been granted a license to conduct banking operations by the Ukrainian authorities.

The Bank’s organizational structure consists of central management, regional branches and retail offices. The central management operates in Kyiv only as well as in Odesa and Ivano-Frankivsk cities where there are also regional branches located.

2. Structure of JSC STATE SAVINGS BANK OF UKRAINE and its Branches

JSC STATE SAVINGS BANK OF UKRAINE has branches in all regions of Ukraine.

3. Director’s Office

The Director’s Office is the main body of the Bank. It is headed by the Director of JSC STATE SAVINGS BANK OF UKRAINE, who was appointed by the Board of Directors.

4. Department on work with economic subjects

The Department on work with economic subjects is the main body of JSC STATE SAVINGS BANK OF UKRAINE which carries out the functions of a financial institution. The department provides services to individuals, legal entities and state bodies.

The main objectives of this department are:

  • to provide financial incentive for creation of jobs in Ukraine; – to promote development of small businesses; – to support innovation projects related to technological innovations; – to develop programs aimed at supporting innovative technologies used by Ukrainian companies or start-ups that could potentially become market leaders in their field (e.g., artificial intelligence); – providing support for established businesses that wish  to expand their operations overseas by introducing new products into foreign markets (e..g., pharmaceuticals).
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5. Department for Work with Legal Entities

The department for work with legal entities is a key department in the JSC STATE SAVINGS BANK OF UKRAINE.

The main tasks of this department are:

  • To prepare and update the JSC STATE SAVINGS BANK OF UKRAINE Strategy;
  • To prepare, review and approve reports on the activity of the JSC STATE SAVINGS BANK OF UKRAINE;
  • To provide assistance to employees who have questions about their rights as well as obligations arising from their employment contract;

6. Department for Work with Individuals

The Department for Work with Individuals is responsible for promoting social protection in Ukraine. It provides benefits and services to citizens, including health care, education and housing. The department also oversees the collection of taxes on income tax, social security contributions and other payments made by individuals or legal entities to government institutions.

The department’s headquarters are located in Kyiv (the capital city) but its field offices can be found throughout Ukraine as well as abroad:

  • Kyiv branch office – 16/1 Kirov Street; tel.: +38-044-224-000; e-mail: dwi@dwiukr.gov.ua; website: www(dot)dwiukr(dot)/en/homepage

7. Revenue Section

The revenue section is responsible for the collection of funds from the clients and their transfer to the bank’s accounts. They also have to receive and register cash, securities and other valuables as well as their transfer to such accounts.

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8. Treasury Division

The Treasury Division is a division of JSC STATE SAVINGS BANK OF UKRAINE that is responsible for the collection and safekeeping of cash, securities, and other valuables.

9. Internal Audit Service of JSC STATE SAVINGS BANK OF UKRAINE

JSC STATE SAVINGS BANK OF UKRAINE is a structural unit of JSC STATE SAVINGS BANK. It is headed by a head of Internal Audit Service, who has his/her own management and supervisory bodies. The main functions of the Internal Audit Service are:

  • Supervision over all internal audit activities performed in the organization;
  • Implementation or carry-out work on special programs regarding auditing standards or requirements for financial control systems at JSC STATE SAVINGS BANK; Given that these programs are implemented within the framework of laws and regulations, they provide high quality standards for controlling assets, capital adequacy calculations etc., as well as effective ways to monitor compliance with these programs by all departments within JSC STATE SAVINGS BANK (including branches).

this is the structure of JSC STATE SAVINGS BANK OF UKRAINE

  • JSC STATE SAVINGS BANK OF UKRAINE
  • The structure of JSC STATE SAVINGS BANK OF UKRAINE and its branches
  • Director’s office
  • Department on work with economic subjects (Department for Work with Economic Subjects)
  • Department for work with legal entities (Legal Entity Department).

Conclusion

A national bank with its headquarters in Kiev is the Jsc State Savings Bank of Ukraine. It is governed by the Ministry of Finance and has locations all around Ukraine. The bank’s main goal is to offer its clients financial services by providing loans, deposits, and other products and services at competitive rates with high standards.

This is the structure of JSC STATE SAVINGS BANK OF UKRAINE.

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