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The Individual Deposit Guarantee Fund has introduced an interim administration in Bank Narodny Kapital based on the decision of the National Bank of Ukraine on the recognition of the financial institution insolvent.
According to the Fund's website, the interim administration headed by Oleh Andronov is introduced for a one-month period – until February 20, 2017.
As UNIAN reported earlier, shareholders of Narodny Kapital Bank at their extraordinary meeting on January 16 have made a decision to close down the financial institution.
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As part of the NBU's efforts to clean up the country's banking system 2014-2017, the Central Bank decided on the withdrawal of 88 banks from the market. Of them, 33 banks became insolvent in 2014, another 33 banks in 2015, and 21 in 2016 and one in 2017. The regulator decided on the liquidation of 81 of these banks. However, only one bank resumed operations after it was sold to an investor.