National Bank of Ukraine (NBU) classified Avant-Bank (Kyiv) as insolvent.
The decision approved by the Decree №44 of January 29, 2016, presses the service of the National Bank.
NBU explained the decision as the shareholders of the bank have no “clear plans for the replenishment of the bank’s liquidity and default of customers’ operations within the terms”.
Since then, the bank within the jurisdiction of the Deposit Guarantee Fund, which introduces temporary administration and appoints authorized persons in this financial institution.
“Given the lack of clear plans of shareholders regarding the bank’s liquidity and the failure of clients’ operations in the period established by the legislation, the National Bank decided to classify “Avant Bank” to the insolvent”, – the report says.
According to the NBU, the Deposit Guarantee Fund of natural persons will ensure the payment of compensation for 96% of the depositors. The amount of the payment of the guaranteed sum of deposits will be about 550 million UAH.
As explained control, “Avant-Bank” was classified as a problem at the beginning of December 2015. In the end, the state of its liquidity significantly deteriorated. In addition, there have been complaints from individuals and legal entities regarding the bank failure of its obligations.
“Avant-Bank” was founded in 2009. Its sole shareholder as of March 8, 2015, as reported on the website of the NBU, was Igor Zavatsky, who is the controller of “Stabil Holding” Ltd., participation in which is divided between 10 offshore companies with shares of 9.99% each (Lion International Ltd, Azure Investment Ltd, Multimedia Premier Ltd, Schuster Management Limited, Dynasty Network Ltd, Bestway Management Ltd, Lextor Ventures Limited, Capital Power Limited, Veratex Limited, Sharona Trade Limited) and Vendex Trading Corp (0,1%).
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