NBU / Photo from UNIAN
The National Bank of Ukraine (NBU) has declared insolvent PJSC Petrocommerce-Ukraine Bank, which falls into the category of problem banks in connection with an opaque ownership structure, according to the regulator's website.
In March 2015, the bank's shareholder, Russian Petrocommerce Bank, sold shares of the bank to 11 individuals, with the share of each being less than 10%.
In 2015, the bank's shareholders and its actual controllers Ivan Shekhavtsov and Oleksiy Krupiy were repeatedly notifying the NBU of their intention to legalize the shares of the bank, but only in December did they file the relevant package of documents to the regulator.
"In late February - early March 2016, without any warning, they sold the bank's shares to another 11 individuals, after which they reported that they had seceded from the shareholders and withdrew the documents. At the same time, the bank had problems with liquidity," the report says.
Read alsoDeposit Guarantee Fund reserves decrease 9%According to the NBU, after classifying Petrocommerce-Ukraine Bank into the category of problem banks, the regulator found out that the bank had failed to comply with customers' operations within the prescribed period. As of March 16, the volume of outstanding transactions exceeded 30% of the bank's liabilities, therefore the National Bank of Ukraine made a decision to classify Petrocommerce-Ukraine Bank as insolvent.