The process of privatization of the state-owned Oschadbank was suspended due to the full-scale invasion of the Russian Federation. This was stated by the head of the board of the bank Sergey Naumov in an interview with the Ministry of Finance..

“We continue cooperation with the EBRD, in particular, under the trade finance program, but it is clear that the work on the privatization of Oschadbank has been put on hold. Now it is not a priority,” Naumov said..

He also added that the Cabinet of Ministers slightly adjusted the strategy - updated the strategic directions of state-owned banks, which also affected the situation with Oschadbank.

Earlier, the Ministry of Finance assumed that out of four state-owned banks, only one would remain in state ownership.. It was planned to find a buyer for Oschadbank by the end of 2025.

In the fall of 2021, the European Bank for Reconstruction and Development signed a mandate letter confirming its readiness to provide Oschadbank with a long-term subordinated loan with the possibility of converting into shares in the amount of up to 100 million euros.