Arsen Miliutin Stepped Down as Deputy Chairman of the Management Board of Oschadbank

Arsen Miliutin, Deputy Chairman of the Management Board of Oschadbank in charge of non-performing loans (NPLs), stepped down from his position on June 22, 2026.

Throughout his tenure leading this area, first as Director of the Department and later as Deputy Chairman of the Management Board, Oschadbank has achieved one of the highest results in managing non-performing loans in the Ukrainian financial market.

Thanks to the implementation of a clear strategy and centralized structure within the relevant department, the team led by Arsen Miliutin has achieved remarkable results:

• Secured the repayment of non-performing loans totaling UAH 23.628 billion;
• NPL ratio has been drastically reduced – as of January 1, 2026, the share of non-performing loans in the Bank's portfolio was reduced to 26.5%, and the total volume of the non-performing portfolio was cut nearly in half. This progress was achieved despite the severe economic challenges posed by the COVID-19 pandemic and a full-scale war;
• Non-core assets totaling UAH 2.448 billion in book value have been sold, with total proceeds of over UAH 4 billion, demonstrating highly effective asset management;
• A group of restructured corporate loans has been successfully repaid or reclassified as performing under the Law of Ukraine “On Financial Restructuring”;
• A state-of-the-art soft-collection technology system has been developed and implemented from scratch.

Protecting the interests of the Bank and the state in international courts has become another priority. Oschadbank has made significant progress in enforcing the arbitration award regarding compensation for damages resulting from the annexation of Crimea and in managing assets seized from russia. In addition, a new investment arbitration case against russia has been initiated to seek compensation for damages resulting from the occupation of other regions of Ukraine.

The team’s professionalism and high-quality process management have gained market-wide recognition: Oschadbank’s Restructuring and Recovery Department has been named the best in the market seven times in a row.

“For me, my work at Oschadbank has been an important professional milestone and a great responsibility. Everything we’ve achieved in recent years is the result of a strong team that has demonstrated professionalism, integrity, and a willingness to find solutions even when faced with the most challenging circumstances. I am grateful to my colleagues, the Management Board, the Supervisory Board, and our partners for their trust, support, and collaboration. I am confident that Oschadbank will continue to be a leader of change in the banking sector and will succeed in achieving its strategic goals,” said Arsen Miliutin.

“Dealing with non-performing loans and cleaning up the balance sheet is always one of the biggest challenges for any bank, and amid a crisis, a pandemic, and a full-scale war, this area requires particular resilience and strategic vision. Arsen Miliutin and his team did not merely rise to this challenge; they delivered outstanding results that have set the standard for the Ukrainian banking sector as a whole. The development of a transparent, centralized system and unprecedented successes in international arbitration cases against the aggressor represent a major contribution to the financial stability not only of Oschadbank but also of the state as a whole. On behalf of the Supervisory Board, I sincerely thank Arsen for his high level of professionalism, leadership, and dedication to the cause, and I wish him further great achievements,” said Volodymyr Lavrenchuk, Chairman of Oschadbank’s Supervisory Board, highlighting the top manager’s exceptional contribution to the institution’s development.

Oschadbank expresses its gratitude to Arsen Miliutin for his significant contribution to the Bank's financial stability, the development of an effective NPL management system, and the successful defense of the institution’s interests at the international level. We wish him every success in his future professional endeavors.