Pivdenny Bank engages EY to enhance Compliance and Integrity programmes

Pivdenny Bank and EY Baltics (EY) have signed an agreement to conduct a comprehensive independent assessment of the bank's internal Compliance and Integrity programmes against European Union regulatory requirements and international guidance. Based on the assessment findings and recommendations, Pivdenny will continue to refine its internal policies in line with European Union standards and future regulatory developments. This initiative represents another important step toward the integration of Ukrainian's banking sector into the European Union financial system.

“From 2027, significant changes to European AML/CFT legislation will come into force. This marks a fundamental shift from national regulation to uniform pan-European rules and standards. Recognising the scale of the upcoming changes and the need for timely adaptation, we have begun early preparations and initiated an independent assessment of our programmes and procedures. For Pivdenny, implementing European regulatory requirements is an investment in building trust with clients, international financial institutions, investors, and partners,” noted Volodymyr Havlytskyi, Deputy Chairperson of the Board of Pivdenny Bank.

The assessment of the bank’s internal Compliance and Integrity programmes will be conducted over several months and will cover the following areas:

• programmes focused on combating money laundering, terrorist financing, and sanctions regime compliance (AML/CFT/Sanctions Programme)
• programmes covering ethics, business integrity and anti-corruption compliance (Anti-Corruption, Conduct & Business Integrity)

All programmes will be reviewed for compliance with existing and future European Union  selected international financial institution guidance.

EY has extensive experience delivering similar projects across the European Union and Ukraine.

"We are pleased to lead projects that bring Ukrainian Banks closer to the European Union standards and approaches. Pivdenny Bank's initiative demonstrates a commitment to change and readiness to implement improvements in AML/CFT and sanctions as well as business integrity and anti-corruption compliance areas," commented by Janis Kaulins, Partner leading Financial Services Industry at EY Baltics.

About the Bank

Pivdenny Bank is one of Ukraine’s largest banks with private Ukrainian capital. For more than 30 years, Pivdenny has been a trusted financial partner for corporate and retail clients. Pivdenny ranks among the top three banks with private Ukrainian capital by assets and has been designated a systemically important bank by the National Bank of Ukraine for eight consecutive years.

About EY

EY is a member firm of Ernst & Young Global, a leading provider of professional services in the Baltics. More than 900 EY professionals across the Baltic States deliver assurance, tax, accounting outsourcing, strategy, transactions, and other consulting services to businesses and public sector organizations.

EY refers to the global organization of member firms of Ernst & Young Global Limited and may refer to one or more of those member firms, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.