NBU / Photo from UNIAN
The National Bank of Ukraine (NBU) made a decision to revoke a banking license of the Omega Bank PJSC and liquidate the financial institution, where provisional administration of Individuals’ Deposit Guarantee Fund has been introduced since March 2.
“Given Omega Bank PJSC involvement in risky activities, as evidenced by deteriorating performance indicators, which posed threats to the interests of depositors and other creditors of this bank, in January 2015, the bank was declared a problem bank and the NBU employee was appointed as a supervising officer to the bank,” the statement reads.
After this bank was recognized as a problem bank, its performance indicators deteriorated markedly. Given that activities of the Omega Bank failed to comply with the requirements of applicable banking legislation and the NBU regulations, this bank was declared insolvent in March 2015.
Individuals’ Deposit Guarantee Fund started the procedure of bank liquidation on July 6, and it is expected to last until July 5, 2016. Artem Karachentsev was appointed a liquidating agent.
As UNIAN reported earlier, the National Bank of Ukraine allowed Ukrainian Business Group (UBG) corporation to purchase a transition bank established by Individuals’ Deposit Guarantee Fund on the basis of the insolvent Omega Bank.
According to the NBU, the relevant agreement on acquisition of a significant share in the transition bank was made on June 5 with regard to UBG as a direct shareholder and Oleksandr Stetsyuk as the owner of 100% of its capital.
On March 2, the National Bank of Ukraine declared insolvency of three banks, namely Ukraine’s largest lender Delta Bank, along with its subsidiaries Kreditprombank and Omega Bank owned by Mykola Lagun.
The Omega Bank (earlier known as SwedBank) has been operating in Ukrainian market since 1991 and was part of a group of small banks in terms of assets. In April 2013, Lagun acquired a controlling stake in SwedBank, and later the institution was renamed as the Omega Bank