Ukrainian private carrier Nova Poshta doesn't plan to creat bank – co-owner

Ukrainian private carrier Nova Poshta doesn't plan to creat bank – co-ownerThe Nova Poshta Group does not plan to transform own financial company Post Finance (the Forpost payment system) into a bank, co-owner of the group Volodymyr Popereshniuk has said.

"Forpost will remain a transaction financial company. In 2016 over 30 million transactions were settled via the company. Initially, this is logistics but in the financial area. We do not plan to create a bank and expand. We will develop these services. Maybe we will invent some wallets, but we do not want to make it a full-featured bank," he said in an interview with Interfax-Ukraine.

Popereshniuk said that the banking market is overregulated.

"The main reason is that it is hard to create a bank. The market is overregulated. The minor reason is that it is a separate business. We do not want to divert our attention from logistics. If there were an opportunity of opening a bank without any problems we would have opened it, as we twice suffered from bank Finance and Credit and National Credit," he said.

Earlier in April 2016 co-founder of the group Viacheslav Klymov said that Nova Poshta could create a bank on the basis of Post Finance in the future.

Nova Poshta was founded in 2001. The company is a leader in the express delivery market in Ukraine. Its network includes over 2,300 depots and 1,400 pick-up and drop-off points in over 1,000 cities and towns of Ukraine.
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