On January 10, the National Bank declared Platinum Bank insolvent, according to Finance.ua.

NBU reports that according to the results of stress testing of Platinum Bank PJSC, conducted in the first half of 2016, in June 2016, the necessary volume of capital increase is approved. As per the results of stress testing, all banks of the second twenty in terms of size of assets, which needed capital increase, should have ensured the positive value of regulatory capital as of January 01, 2017.

Platinum Bank PJSC submitted the restructuring plan, which provided for undertaking some measures for capital increase. During 2016, the management board and the owners of major shareholding of the bank undertook measures for fulfilment of requirements on capital increase. In particular, through repayment of the loans of borrowers – associated persons, provision of irrevocable financial aid from the shareholder, increase of the volume of loan collateral.

It is noted that as of January 1, 2017, the bank did not reach positive value of the capital. Taking the above-mentioned into consideration, the Management Board of the National Bank of Ukraine took the decision on declaring Platinum Bank PJSC insolvent.

NBU notes that 97% (197 ths people) of all depositors of Platinum Bank PJSC will obtain their deposits in full, as their amount does not exceed the amount of UAH 200 ths, guaranteed by the Individuals’ Deposit Guarantee Fund. The clients with large amounts of deposits will receive them within the amount, guaranteed by the Fund. The Fund will ensure payment of the guaranteed amount of deposits, amounting to UAH 4.8 bln.

As of January 10, 2017, Boris Kaufman and Grigori Gurtovoi are the physical persons – owners of major shareholding in Platinum Bank PJSC irrespective of formal possession with consideration for exercising significant influence on bank management and activities. The National Bank recognized Grigori Gurtovoi and Boris Kaufman as the owners of the major shareholding, based on the analysis of bank operations. In addition, Boris Kaufman confirmed the exercising significant influence on bank management in the written application, submitted to the National Bank.

In June 2016, the bank ownership structure was recognized by NBU as nontransparent. In August 2016, Boris Kaufman submitted to the National Bank the set of documents for approval of acquisition of the major shareholding in bank in the amount of 75% through controlled companies. As of today, the National Bank did not approve the acquisition of bank shares for Boris Kaufman with consideration for non-provision of certain documents, in particular, due to absence of permission of the Antimonopoly Committee of Ukraine for concentration. According to the information of the National Bank, in December 2016, the Antimonopoly Committee returned without consideration the set of documents regarding the acquisition of the major shareholding in Platinum Bank PJSC by Boris Kaufman.