The National Bank of Ukraine declared "Finbank" insolvent

The National Bank of Ukraine declared "Finbank" insolvent

The corresponding decision was made by the board of the National Bank of Ukraine on April 7, 2017, according to the website of the Bank.


As reported on the site, the Board of the National Bank in October 2016 approved the necessary amount of additional capitalization of Finbank. However, the bank did not provide the capitalization program on time. In addition, the bank did not submit a plan of measures to bring the bank's activities in line with the requirements of the ukrainian legislation and regulatory acts of the NBU.

These actions of the bank led to the insolvency of "Finbank" to fulfill its obligations to depositors and creditors. The bank's capital acquired a negative value of minus 320 million hryvnia.

In connection with the uncertainty regarding possible directions and sources of further capitalization, the shareholders of PJSC "Finbank" decided to liquidate the bank and submitted the corresponding package of documents to the NBU, the message says.

According to the Deposit Guarantee Fund of the Individuals, 99% of the depositors of PJSC "Finbank" will receive their deposits in full, since their amount does not exceed the amount guaranteed by the Deposit Guarantee Fund of 200 thousand hryvnia.

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