Another bank liquidated in Ukraine


Kiev Bank, which began operations in 1995, was planned to be completely liquid by the summer of 2016.


In Ukraine, another bank was liquidated: what they did to depositors. Photo:

The Deposit Guarantee Fund for Individuals completed the liquidation of the commercial bank Kyiv, which lasted for the last five years. As per the resolution of the Cabinet of Ministers on 11 February 2015, the FGVFL transferred the assets and liabilities of the bank to Ukragsbank.

All depositors and creditors of the bankrupt bank “Kyiv” were transferred to Ukragsbank’s customer base and had full access to their own funds. The executive directorate of the fund initiated a provisional administration in the bank on 25 February 2015 and appointed Oleg Kichuk as an authorized person.

Kiev Bank, which began operations in 1995, was planned to be fully liquidated by the summer of 2016, but the conditions were extended several times. After the 2008 crisis, the financial institution stopped returning its funds to investors. In addition, the bank sent public money to pay its communal expenses to pay its own obligations. After the intervention of the prosecutor’s office, “Kiev” started selling, selling the property.

The reference PAYSPACE magazine

Recall that Global Finance magazine presented the winners of the 27th annual World’s Best Banks Award. This year, banks from more than 150 countries participated. The main criteria for selecting the winners were customer service, risk management, the category of services provided, quality of management, and technological development.

The best banks in North America were Bank of America, Latin America – Santander, Western Europe – Caxbank, Central and Eastern Europe – Rifen Bank International, Asia-Pacific – DBS, Middle East – Arab Bank, Africa – Standard Bank. In Ukraine, Raifsen Bank Aval was considered the best.

Read: Guarantee fund destroyed a bank operating in Ukraine since 1991


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