Financing Ukraine’s war economy: Mikael Björknert, Group CEO, PrivatBank

Financing Ukraine’s war economy: Mikael Björknert, Group CEO, PrivatBank

Author: SG& Capital Partners June 19, 2026 Duration: 42:16

In this episode Mikael Björknert, CEO of PrivatBank, joins Sam to discuss what it means to run Ukraine’s largest bank during a full-scale war. As head of the country’s largest state-owned bank, Mikael offers a rare front-line perspective on how financial infrastructure, operational resilience and national security have become inseparable in wartime Ukraine. 

 

The conversation covers how wartime conditions have forced a level of speed and adaptability on the bank that outpaces many Western organisations and also examines Ukraine’s wider economic trajectory, from the rise of the drone economy and the role of international investors to PrivatBank’s eventual privatisation as part of the country’s EU accession path.  

 

Mikael reflects on the resilience of Ukrainian entrepreneurs, the bank’s work supporting veterans and why investors waiting for complete stability may find that the real opportunity has already passed. 

 

Host: Sam Gyimah, Founder and CEO of SG& Capital Partners 

Producers: Clare Williamson and Duncan Williamson for TGOB Intelligence Ltd in partnership with SG& Capital Partners Ltd. 

Music composed by: Sophie Sirota 

For listener questions or business inquiries please email info@thegeopoliticsofbusiness.com, and to contact SG& Capital Partners please email info@sgand.com. 

 

You can find a summary of the key points in this episode in The Geopolitics of Business Newsletter. 

Disclaimer: The content of this podcast is for informational purposes only and should not be considered or relied upon as financial, investment, legal or tax advice. While we seek to ensure the information shared is accurate and up to date at the time of release, no warranties or representations are made regarding its accuracy or completeness and any liability therefore is expressly disclaimed. The opinions and views expressed in this podcast are solely the participant’s own personal opinions and do not reflect the opinions of SG&. 


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Behind every major market shift or investment thesis, there is often a political decision made in a distant capital. The Geopolitics of Business explores that critical intersection, moving beyond headlines to understand how power, policy, and profit collide. Host Sam Gyimah brings a rare perspective to these conversations, having operated at the highest levels in both finance and government as a former Wall Street financier and British Minister. Now leading the advisory firm SG& Capital Partners, he engages in direct, unfiltered dialogues with the global investors, corporate leaders, and policymakers who are directly shaping-and responding to-the world’s economic landscape. Each episode feels like a privileged briefing, unpacking the real-world consequences of geopolitical strategies on supply chains, capital allocation, and long-term business viability. This isn’t about abstract theory; it’s a practical examination of risk and opportunity, guided by those with firsthand experience. For anyone navigating today’s complex crosscurrents where a regulatory change or a trade agreement can redefine an entire industry, this podcast provides essential context and candid insight you won’t find elsewhere. Tune in for a masterclass in strategic thinking at the highest level.
Author: Language: English Episodes: 29

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