Privatbank, Oschadbank and Ukreximbank reduced payments to members of supervisory boards in 2023, but increased payments to management board members

MOSCOW. May 3 (Interfax) - Three state banks, all in the top five in Ukraine in terms of assets, significantly reduced remuneration to members of their supervisory boards for the performance of their work functions in 2023: Privatbank reduced them 38.8%, Oschadbank by 31.9%, and Ukreximbank by 45.8%, Ukrainian media reported, citing the banks' annual reports.

Privatbank paid six independent members of its supervisory board and three members representing the state UAH 51.6 million in 2023, while in 2022, they were paid UAH 84.3 million.

Oschadbank paid UAH 32.3 million to members of its supervisory board, after paying UAH 47.4 million the previous year.

Remuneration to members of the supervisory board of Ukreximbank in 2023 totaled UAH 27.8 million, a significant decrease compared to the UAH 51.3 million paid out in 2022.

Meanwhile, it was reported that state-owned Ukrgasbank increased remuneration to its supervisory board members 2.5-fold versus 2022 to UAH 17.9 million.

As for remuneration to its management board members, Oschadbank increased it most significantly, 12.7%, to UAH 61.8 million. Privatbank increased payments 1.9% to UAH 78.9 million, while Ukreximbank increased them 9.1% to UAH 53.8 billion.

Ukrgasbank has not yet published data on payments to its management board members.

Payment amounts are given before tax. They include basic wages or remuneration for the performance of job functions, excluding compensation and other transfers.

The official rate as of May 3 is 39.53 UAH/$1.