NBU declares Avant-Bank insolvent

The press service of the NBU reports on its site.

"The National Bank of Ukraine on February 25, 2016 at the motion of the Deposits Guarantee Fund for individual entities has adopted a resolution number 109 to revoke the banking license and liquidation of Avant Bank PJSC," a statement said.

The regulator noted that the bank was classified as problematic in the beginning of December 2015.

At the end of the year the liquidity at Avant Bank significantly deteriorated. At the same time individuals and legal entities began to complain that the bank failed to fulfill its obligations. Taking into account shareholders’ lack of clear plans to replenish the bank's liquidity and the failure to transact clients' operations within the specified period stipulated by the legislation, the National Bank has made a decision to declare Avant-Bank" insolvent.