The National Bank of Ukraine (NBU) has designated Investbank as insolvent for the failure to fulfil minimum capital requirements.
The NBU said on its website that the bank`s shareholders had failed to take sufficient measures to bring charter capital in line with the banking requirements.
Investbank`s charter capital as of December 15 was lower than the required minimum set at UAH 120 million, or US$ 4.56 million.
The regulator recalled it issued a resolution on February 4, 2016, under which banks had to increase their charter capital to UAH 120 million by June 17, 2016.
The NBU claims that 98% of Investbank`s depositors will get their deposits back in full, as their size does not exceed the UAH 200,000 compensation amount guaranteed by the Deposit Guarantee Fund.
Investbank has become 18th bank designated as insolvent since the beginning of 2016. In 2014-2015, the NBU withdrew 63 banks from the market during the clear-up of Ukraine`s banking system.
UNIAN memo. Investbank had been working in Ukraine since 1992. It was 76th among 100 operating banks in terms of assets as of October 1, 2016.
Among the bank`s shareholders whose stakes were larger than 10% were Ukrainian citizens Oleksiy Kotkovsky, Oleksandr Nezvinsky, Tamara Nezvinska, and the Bab-Invest company.