Two very large banks are being liquidated in Ukraine
Kyiv, March 17 (PolitNavigator, Vasily Ablyazimov) – Today, March 17, the Deposit Guarantee Fund proposed to the National Bank to liquidate two large banks: VAB Bank and CityCommerce Bank. All bank depositors will receive compensation from the Deposit Guarantee Fund within the period established by law, but only in an amount not exceeding UAH 200 thousand.
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As noted in the text of the message posted on the website Fund, the Fund applied to the National Bank of Ukraine with a proposal to revoke the banking license and liquidate PJSC “VAB Bank” - “in connection with the expiration of the temporary administration and taking into account the least costly method of removing the insolvent PJSC from the market approved by the resolution plan - liquidation of the insolvent bank with compensation from sides of the Fund for deposits of individuals.”
Since March 17, payments of funds to VAB Bank depositors through branches of six banks have been suspended, according to the website.
The second message with similar clarifications concerns PJSC City Commercial Bank (CityCommerce Bank). Payments to depositors of this financial institution are also suspended from March 17 through branches of five banks.
The process of liquidation of these banks will hit legal entities that opened deposits in branches of these financial structures and placed amounts of more than 200 thousand UAH on them. VAB Bank was one of the 20 largest banks in terms of deposits. Let us recall that a similar liquidation process began with the 4th bank of Ukraine for individual deposits - Delta Bank.
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