Ukrgasbank Appoints Former Deputy Finance Minister as New CEO

Artem Shevalev, a former Ukrainian deputy finance minister, was appointed chief executive officer (CEO) of the state-owned Ukrgasbank on Monday. His candidacy is still subject to review and final approval by the National Bank of Ukraine (NBU). Shevalev will become the financial institution’s first permanent leader in more than three years, ending a period where the bank was led by an acting chief.JOIN US ON TELEGRAMFollow our coverage of the war on the @Kyivpost_official. Ukrgasbank focuses on corporate clients, providing trade finance, export and import financing, and funding backed by Western international financial institutions, with an emphasis on small and medium enterprise (SME) lending. According to NBU data, Ukrgasbank ranks eighth in the country’s banking sector by capital as of Jan. 1, 2026, with Hr.20.42 billion ($48 million). The bank’s net profit after tax for 2025 totaled Hr.4.87 billion ($15 million). “Ukrgasbank continues to operate as usual, fulfilling its obligations to clients and partners and supporting the stability of Ukraine’s economy,” the bank wrote on its website. Prior to his latest appointment, Shevalev had represented Ukraine on the board of directors of the European Bank for Reconstruction and Development (EBRD) since 2011. From 2015 to 2016, he served as the deputy finance minister for European integration. Since late 2016, he has served on the supervisory board of PrivatBank, Ukraine’s largest state-owned bank. Other Topics of Interest Ukrainian Startup Osavul Raises $10 Million to Expand Threat Detection Osavul plans to expand its AI-powered threat detection platform from government and defense clients to businesses and critical infrastructure operators. Rodion Morozov has served as Ukrgasbank’s acting CEO since early 2023, prior to Shevalev’s appointment. He joined the bank’s management board as deputy chairman on May 15, 2020. To ensure management continuity, Volodymyr Ponomariov, the bank’s first deputy chairman and chief financial officer (CFO), has been serving as acting CEO of Ukrgasbank since Oct. 3 until Shevalev officially takes office. In December 2025, the government launched a privatization process for Ukrgasbank and several other state-owned banks, which is ongoing.