NBU declares another bank insolvent
The Board of the National Bank of Ukraine has decided to classify JSC Commercial Investment Bank (JSC Cominvestbank, Uzhhorod) as insolvent.
This is stated in the NBU’s statement, Ukrainian News Agency reports.
The financial institution’s market share was 0.04% of all assets of solvent banks as of November 1, 2024.
Accordingly, classifying JSC Cominvestbank as insolvent will not affect the stability of the banking sector of Ukraine.
The decision was made due to JSC Cominvestbank failing to bring its activities into line with the requirements of the law, including the regulations of the National Bank.
On August 8, 2024, the Board of the National Bank of Ukraine, guided by Article 75 of the Law of Ukraine “On Banks and Banking Activities”, decided to classify JSC Cominvestbank as problematic.
The basis for this decision was the establishment of the fact that JSC Cominvestbank was carrying out risky activities that posed a threat to the interests of depositors or other creditors of the bank, based on the following identified signs: improper organization of the internal control system, including the risk management system, and insufficient bank income.
Each depositor of JSC Cominvestbank will receive from the Deposit Guarantee Fund compensation in the full amount of the deposit, including interest accrued as of the end of the day preceding the day of the start of the procedure for withdrawing the bank from the market, except for cases provided for in Part Four of Article 26 of the Law of Ukraine “On the Deposit Guarantee System of Individuals”.
In total, the possible amount of guaranteed payments to depositors of JSC Cominvestbank as of November 21, 2024 is UAH 432 million.
As of December 4, 2024, the volume of highly liquid assets of the bank, including government bonds and deposit certificates, is UAH 890 million.
We remind you that with the entry into force of the Law of Ukraine dated April 1, 2022 No. 2180-IX “On Amendments to Certain Laws of Ukraine on Ensuring the Stability of the Deposit Guarantee System for Individuals”, a one hundred percent guarantee of deposits of individuals was introduced in all banks.
As Ukrainian News Agency earlier reported, Cominvestbank is controlled by Volodymyr Hisem.