NBU liquidates VTB Bank

NBU liquidates VTB Bank

On December 18, 2018, the National Bank of Ukraine decided to revoke the banking license and liquidate JSC VTB Bank, the central bank’s press service reports.

"The National Bank of Ukraine, at the proposal of the Deposit Guarantee Fund, adopted a decision as of December 18, 2018, No. 849-rsh, to withdraw the banking license and liquidate JSC VTB Bank," reads the statement.

As Ukrinform reported, on November 13, 2018, the National Bank classified JSC VTB Bank as a problem bank. On that date, the deadline was set for JSC VTB Bank to take measures to bring its activity in line with the legislative requirements. Taking into account the lack of real actions by the owners of JSC VTB Bank to prevent the insolvency, as well as the lack of taken or feasible measures to improve the bank’s liquidity, and given that the operation of JSC VTB Bank did not meet the requirements of banking laws and NBU regulations, the central bank on November 27, 2018 decided to declare JSC VTB Bank insolvent.


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