NBU declared Ukrinbank insolvent / Photo from UNIAN
National Bank of Ukraine classified Ukrinbank, which belongs to the group of big banks in terms of assets, as insolvent.
According to the regulator’s website, the board NBU passed the regulation on December 24.
The NBU says, the majority of Ukrinbank’s deposits are subject to full compensation by the Individual Deposit Guarantee Fund. 53,000 depositors (or 95.5%) are to receive compensations totaling more than UAH 1.9 billion.
Read alsoNBU decides to liquidate bank of Yanukovych's sonAs UNIAN reported earlier, the World Bank expects from the Ukrainian authorities the decrease of the number of banks in Ukraine to 100 from today’s 122, in the framework of improving sustainability and efficiency of the banking system.
60 banks were found insolvent during the cleansing process in 2014 and 2015.
UNIAN memo. Ukrinbank was the first commercial bank in the territory of the former Ukrainian Soviet Socialist Republic, licensed directly from Moscow by Mikhail Gorbachev. As of December 21, 2015, the major shareholders are Volodymyr Klymenko (66.99%) and Oleksiy Morozov (10%).