The National Bank of Ukraine (NBU), following a proposal of the Deposit Guarantee Fund, has issued a decision on withdrawing the banking license and liquidating PJSC Eurobank, according to a post published on the regulator`s website.
The NBU stated that PJSC Eurobank was declared insolvent on June 17, 2016, after it was revealed that the bank had performed deposit splitting transactions, i.e. transferring funds less than UAH 200,000 from current accounts of legal entities to accounts of individuals.
As UNIAN reported earlier, the Deposit Guarantee Fund introduced a provisional administration at the bank on August 17. According to NBU, a month after the approval of the sale of 50% shares of Eurobank in favor of Kazakh citizen Bolat Nazarbayev, the shares have still not been transferred to his ownership. The regulator, therefore, said it considers Oleksandr Adarych and Vadym Pushkarev the ultimate beneficiaries of the bank at the time it was declared insolvent.
Eurobank has been operating in the Ukrainian market since 2005 and belongs to a group of small-sized financial institutions, placed 47th in terms of assets, as of April 1.
On May 20, the Deposit Guarantee Fund introduced a provisional administration at another bank owned by Oleksandr Adarych – Fidobank.