Deposit Guarantee Fund begins payments to depositors of Bank Arcada

Deposit Guarantee Fund begins payments to depositors of Bank Arcada

The Deposit Guarantee Fund started to pay refunds to the depositors of JSC Bank Arcada from September 29, the fund's press service reports.

"From September 29, 2020, the Deposit Guarantee Fund starts to pay refunds to the depositors of JSC Bank Arcada under bank deposit agreements, regardless of their expiration date and under bank account agreements within a sum of UAH 200,000," reads the report.

Reimbursement of funds to depositors is carried out through the branches of banks that are agents of the Deposit Guarantee Fund and are connected to the automated system of payments.

As reported, on September 24, the National Bank of Ukraine decided to revoke a banking license and liquidate JSC Bank Arcada. Earlier, Bank Arcada was put on the list of insolvent banks due to a reduction in capital ratios.


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