UNIAN
The National Bank of Ukraine on March 19 decided to revoke the banking license and to liquidate CityCommerce Bank and VAB Bank, according to the Web site of the regulator.
According to the report, the NBU considered a proposal of the Deposit Guarantee Fund on the liquidation of insolvent banks and adopted a resolution on the liquidation and revocation of the banking licenses of the two banks.
As UNIAN reported earlier, the Deposit Guarantee Fund introduced a temporary administration in VAB Bank, in accordance with the decision of the National Bank of Ukraine on the recognition of the bank as insolvent on November 21, 2014.
The Deposit Guarantee Fund introduced a temporary administration in CityCommerce Bank from November 21, 2014.
As reported earlier, VAB Bank has operated on the Ukrainian market since 1992 and is one of the major banks in terms of assets. The main owner of the bank is the owner of one of the largest agricultural producers in Ukraine Ukrlandfarming Oleh Bakhmatiuk, who owns 82.9402% of shares of the bank through the Quickcom Limited Company in Cyprus.
CityCommerce Bank has operated on the Ukrainian market since 2006 and is part of a group of medium-sized financial institutions in terms of assets.
According to the NBU, the owner of the bank is asset management company Global Financial Management Group.