According to Board Decision No. 769-D dated 30 November 2017, the National Bank of Ukraine has deprived CB Finansovyi Partner PJSC of its banking license, general license for foreign exchange operations, and has excluded the bank from the State Register of Banks.
CB Finansovyi Partner PJSC has ceased its banking activity without dissolving the legal entity in accordance with the Law of Ukraine On Simplifying Bank Reorganization and Capitalization Procedures.
Subject to the Law of Ukraine On Banks and Banking, banks can terminate their activity through liquidation only.
Alongside, the Law of Ukraine On Simplifying Bank Reorganization and Capitalization Procedures introduces the procedure for banks to cease their banking activity without dissolving the legal entity. The procedure includes the following steps:
A bank decides to terminate its banking activity without dissolving the legal entity and approves the termination plan specifying all the measures it will take for this purpose.
The NBU approves the bank’s termination plan within ten business days from the day of receiving it, given there are no grounds to categorize the bank as insolvent.
The bank being terminated must implement the termination plan in full within 180 calendar days from the date of the NBU’s approval.
Having fulfilled the termination plan, the bank being terminated applies to the NBU for banking license revocation.
The NBU decides to revoke the banking license of the bank being terminated in line with the adopted procedure. Simultaneously with this decision, the NBU excludes the bank from the State Register of Banks by making a respective entry.
Within three business days from the date of the NBU’s decision to revoke the banking license, the legal entity whose banking license was revoked must apply to the state registrar to register changes in the legal entity’s details contained in the Single State Register of Legal Entities, Private Entrepreneurs and Non-governmental Organizations as well as changes in its incorporation documents, including changing the name to exclude the word bank.