The Management Board of the National Bank has taken the decision on declaring PJSCCB “TC Credit” insolvent, as it is said in the resolution dd. February 9, 2016. For the first time the bank was withdrawn from the market due to non-transparency of its ownership, Economic Truth reports.
“Starting from mid-2014 the National Bank has repeatedly drawn bank’s attention to non-conformity of its structure with its transparency requirements”. However the bank ignored the regulator’s requirements and did not submit requested documents. The owners of banks did not approve necessary actions for bringing its structure of ownership into conformity with legislation requirements,” – as it is said in the message.
As it is noted, the funds of 98.9% depositors will be fully reimbursed by the Individuals’ Deposit Guarantee Fund.
The Fund will ensure payment of guaranteed amount of deposits totaling about UAH 0.6 bln.
It should be reminded that by the end of 2015 all Ukrainian banks should have submitted to the National Bank the information for confirmation of their ownership structure transparency.
The regulator warned that the banks, which will not submit information, will be withdrawn from the market. The National Bank plans to complete the process of ensuring transparency of the ownership structure of Ukrainian Bank till the end of I quarter 2016.
