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Economy 2017-07-24T04:39:53+03:00
Ukrainian news
NBU Declares Novyi Bank Insolvent

NBU Declares Novyi Bank Insolvent

On July 13, the National Bank of Ukraine declared Dnipro-based Novyi Bank insolvent.

The press service of the National Bank announced this in a statement, Ukrainian News Agency reports.

The statement reads that shareholders of Novyi bank endorsed a decision at their meeting on June 26 on to stop banking activities and submitted a plan to the central bank.

However, in compliance with the Ukrainian legislation the National Bank of Ukraine cannot approve decisions of banks to stop banking activities if there are reasons to declare banks insolvent.

The statement reads that the size of the regulatory capital of bank was estimated at one third of minimally required sum as at July 12.

The law on banks and banking obliges the central bank to declare the bank insolvent.

The National Bank notes that 99% of depositors will get their deposits in full as size of their deposits does not exceed UAH 200,000 guaranteed by the Deposit Guarantee Fund.

The Deposit Guarantee Fund will provide payment of guaranteed sums totally worth UAH 36 million.

As at June 8, 2017, the State Space Agency of Ukraine owned 18.3% of shares of the bank.

The other shareholders own less than 10% of shares each.

As Ukrainian News Agency earlier reported, on June 26, 2017, shareholders of Novyi bank endorsed a decision at their meeting on June 26 to stop banking activities.

According to the data of the central bank of Ukraine, as at April 1, 2017, the bank occupied the 58th position in terms of the size of its assets (UAH 770.6 million) among 90 operating Ukrainian commercial banks.

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