Bank Pivdenny has signed an agreement with EY Baltic to perform a comprehensive independent assessment of the Ukrainian lender's compliance and integrity programs to align them with European Union regulations.
The evaluation will assess internal policies against EU regulatory requirements and recommendations from selected international financial institutions. Following the review, the bank plans to update its internal policies to comply with current standards and upcoming European legal changes.
The audit will take place over several months. It will focus on anti-money laundering, counter-terrorist financing, and sanctions enforcement programs. Experts will also evaluate policies governing business ethics, corporate integrity, and anti-corruption measures.
Scope and European Integration
All compliance programs will be measured against current and future guidelines issued by European Union financial institutions. The auditing team from EY Baltic brings prior experience from similar projects conducted across EU member states and in Ukraine. Pivdenny stated that upgrading these policies represents a necessary step toward integrating Ukraine's banking sector into the broader EU financial market.
Corporate Profile and Advisory Operations
Bank Pivdenny is one of the largest private-capital banks in Ukraine, serving corporate businesses and private clients for more than 30 years. The institution ranks among the top three largest Ukrainian-owned private banks by asset size and has been classified as a systemically important bank by the National Bank of Ukraine for eight consecutive years.
EY Baltic is a member firm of Ernst & Young Global and operates as a leading professional services provider in the Baltic region of Northern Europe. The firm employs more than 900 specialists providing audit, taxation, accounting outsourcing, corporate strategy, transaction support, and consulting services to commercial businesses and public sector organizations. EY operates as a global network of independent member firms under Ernst & Young Global Limited, a firm registered in the United Kingdom that does not directly serve clients.
