The Deposit Guarantee Fund has created PJSC Transition Bank Kristal that will be the first financial institution of a similar type, according to the data from the Uniform National Registry of Natural & Legal Persons in Ukraine as of December 11, 2014, RBK-Ukraine (РБК-Україна) reports.
On December 8, 2014, Andrey Prokopenko was appointed as Chair of the bank.
Meantime, the authorized capital stock of Kristal bank totals one million five hundred twenty two thousand five hundred hryvnias to be paid until December 22, 2014.
Moreover, as has been reported in The Dzerkalo Tyzhnia, PJSC Krystal bank was created on the Terra Bank’s interim basis, the interim administration of which was appointed on August 22, 2014, to be valid till November 22, 2014. Later on, the administration’s powers have been extended for a month – up to December 22, 2014.
It is worth noting that at the end of September of 2014, the Deposit Guarantee Fund reportedly started creating the interim bank on a basis of one of the insolvent banks.
The transition bank is a bank formed in the process of removing the insolvent bank from the system, while the Deposit Guarantee Fund remains an owner of record and shareholder till the day of selling the bank to the investor who should show an intent to acquire shares of the insolvent bank and give a written commitment to the Deposit Guarantee Fund.
