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Ukraine to merge First Investment Bank into Ukrposhta to create a nationwide postal bank

Image by Ukrposhta

Ukrainian Prime Minister Denys Shmyhal said on Tuesday that the shares of local First Investment Bank, previously owned by Russian oligarchs, will be transferred to the national postal service Ukrposhta.

"In this way, we are creating a postal bank," Shmyhal said. "Ukrposhta has its branches in all parts of the country, so this will open up new opportunities for Ukrainians who do not use digital tools."

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