NBU sees no grounds for recognizing Russian banks' subsidiaries in Ukraine insolvent

Photo from UNIAN The National Bank of Ukraine (NBU) sees no grounds for recognizing Russian state-owned banks&#39; subsidiaries in Ukraine, namely Sberbank, Prominvestbank, VTB Bank and BM Bank, insolvent. "Today, we do not see any preconditions. If there are no manipulation and destabilization of the situation, one of the two civilized ways of withdrawing these banks from the market will be implemented," NBU Deputy Governor Kateryna Rozhkova told UNIAN, adding that the regulator works with the financial institutions on a gradual reduction in their assets and liabilities. Read alsoNBU allows Russian-controlled BM Bank to cease banking activity She says that the NBU will not object to the sale of the banks to a new investor if it meets the established requirements. However, there is no such investor for the time being. UNIAN memo. There are four Russian state-owned banks&#39; subsidiaries in Ukraine: Sberbank, Prominvestbank, VTB Bank and BM Bank. According to the decision of the National Security and Defense Council of Ukraine, sanctions against the financial institutions that ban the withdrawal of capital in favor of the parent structures have been in effect since March 2017. Russian VTB&#39;s subsidiary bank in Ukraine, namely BM Bank, decided to cease banking activity and agreed to a corresponding plan with the NBU in April 2018. According to the regulator, Russian state-owned Vneshtorgbank&#39;s Ukrainian-based subsidiary VTB Bank, in the same way, have been reducing its activity for more than a year. The two major Sberbank&#39;s subsidiaries, as well as Vneshtorgbank&#39;s subsidiary, Prominvestbank, have not reported such a decision yet. None of the said banks has commented on their further strategy in Ukraine.

NBU sees no grounds for recognizing Russian banks' subsidiaries in Ukraine insolvent

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