: :inin Kyiv (EET)

NBU declares SmartBank insolvent

The National Bank of Ukraine (NBU) has decided to declare SmartBank insolvent due to an opaque ownership structure, according to the website of the regulator, with reference to the decision of the NBU Board dated May 24.
The National Bank notes that SmartBank became the third bank categorized as insolvent due to an opaque ownership structure, following Unison and TK Credit banks.
The regulator said that since May 2014 it drew attention of SmartBank and its shareholders to the fact that the bank`s ownership structure was not clear, however, after repeated attempts to coordinate the acquisition of a significant participation of different persons in 2015-2016, the bank has not complied with the requirements of the NBU.
At the same time, the bank has changed the owner of a substantial participation several times without the consent of the National Bank, resulting in the owners of a substantial participation being subjected to appropriate sanctions.
It is also reported that the bank held deposits of less than 100 individuals, and the load on the Individual Deposit Guarantee Fund will not exceed UAH 100,000.
As UNIAN reported earlier, in an effort to streamline the banking system, which started in 2014, the NBU declared 63 banks as insolvent institutions that were transferred under administration of the Individual Deposit Guarantee Fund. Since the beginning of this year, the NBU decided to withdraw another 10 financial institutions from the market, including a decision made jointly with the Finance Ministry to liquidate the state-run Rodovid Bank.


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