: :inin Kyiv (EET)

Kyiv`s Diamantbank declared insolvent

Ukraine`s Deposit Guarantee Fund has introduced interim administration at Kyiv-based Diamantbank after the National Bank of Ukraine (NBU) declared the bank insolvent.

The administration headed by Tetiana Startseva will work for a month until May 23 inclusively, the Fund said on its website.

Introducing the interim administration is the first stage of Diamantbank`s liquidation procedure.

The Fund said it would inform Diamantbank`s depositors about the timing and compensation payment regulations.

The NBU in turn informed that 96%, or 39,000 individuals, of all depositors of Diamantbank will have full reimbursements of their bank deposits, as their size does not exceed the Fund-guaranteed UAH 200,000 per person. The Fund estimates its repayments at about UAH 1.1 billion, or some US$41 million.

Memo. Diamantbank started to work in Ukraine in 1993. It belonged to the first group of banks with Ukrainian capital.

Its largest individual shareholders as of April 24, 2017, were David Zhvania, Ihor Kerez, Andriy Shchukin, and Viacheslav Tsyhanenko, according to the NBU.

Zhvania, 49, is a Ukrainian politician of Georgian origin. He was a member of parliament in 2012-2014. In 2005, he worked as minister for emergency situations in Yulia Tymoshenko`s government.


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