Ukraine`s Central Bank on December 15 decided to withdraw Kyiv-based Artem-Bank`s license, as was proposed by the Deposit Guarantee Fund, and liquidate the bank, according to the regulator.
”Artem-Bank was designated as insolvent on November 15, 2016, in keeping with Article 76 of Ukraine`s law on banks and banking,” the regulator said on Friday, December 16.
As the National Bank of Ukraine (NBU) informed, 94% of all depositors at Artem-Bank will have their deposits back in full, as their size does not exceed the UAH 200,000 amount guaranteed by the Deposit Guarantee Fund.
As UNIAN reported, the Deposit Guarantee Fund introduced temporary administration to the bank on November 16 for the period until December 15.
Illia Lun was appointed as interim administrator at the bank.
Artem-Bank was the 16th bank the NBU decided to withdraw from the market in its banking clean-up effort.