NBU declared insolvent another Bank

The Board of the National Bank of Ukraine January 19, 2017 issued decision No. 34-rsh/BT on the attribution of “Bank people’s capital” in the category of the insolvent. About it reports a press-service of the national Bank.
In July 2016 PJSC “Bank people’s capital” was classified as problematic in connection with discrepancy of its ownership structure, the requirements for transparency. During the term is highly problematic, the Bank has not brought its activities in line with the requirements of the legislation. The national Bank reminds that drew the attention of the Bank and its shareholders on this issue since December 2014.
Today, more than 85% of its shares owned by individuals, none of which is the owner of essential participation in the Bank. The sole owner of a substantial participation in a Bank is Valery Makarenko (14,24%), which received a substantial part in violation of the law without the consent of the National Bank, through a long period of time was deprived of the right to vote.
For 2016 the national Bank was filed several packages of documents for approval to the significant participation of both its shareholders and third parties. According to these documents, the national Bank took the decision to ban the acquisition of a substantial participation through the inadequacy of the financial condition of applicants and the inability to confirm the origin of their funds.
According to the NBU, January 16, 2017, the Bank adopted the decision on liquidation at the initiative of the owners and submitted documents to the national Bank for obtaining the consent of the liquidation.

Under article 78 of the law of Ukraine “On banks and banking activity”, such consent may be granted only if there are no signs that the Bank may be classified as problem or insolvent.

However, as stated above, PJSC “Bank people’s capital” at the time of submission of documents had already been classified as problematic. Thus, the national Bank can not meet the request of the Bank.
Means 99% of depositors will be reimbursed by the guarantee Fund of individuals ‘ deposits in full. The Fund will provide payment of the guaranteed amount of deposits in the amount of about UAH 11 mln.