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Managing Director of Ukraine's Deposit Guarantee Fund Kostiantyn Vorushylin has announced state-owned Oschadbank will become a Fund member in 2018.
"Since 2018, we expect, and it has already been laid down, that the Oshchadbank will join the Fund. So, there will be additional contributions to the Fund," he told reporters on February 9.
Read alsoEBRD, Ukraine agree to cooperate in transformation of OschadbankAccording to him, international practice suggests that all banks should be members of such deposit guarantee funds.
UNIAN memo. State-run Savings Bank of Ukraine, or Oschadbank, was registered by the National Bank of Ukraine on December 31, 1991. It is wholly owned by the state.
Under current law, 100% of deposits in Oschadbank are guaranteed by the government. However, the bank does not pay contributions to the Deposit Guarantee Fund now, unlike other Ukrainian banks whose deposits are guaranteed by the Fund with a compensation sum of up to UAH 200,000.