In the course of removing ZLATOBANK JSC from the market, on May 12, 2015, the National Bank of Ukraine took a decision on withdrawal of the banking license and liquidation of this insolvent bank.
In order to protect the interests of depositors and other creditors of this bank, in December 2014, the National Bank of Ukraine adopted a decision to declare ZLATOBANK JSC as a problem bank.
The National Bank of Ukraine set a timeframe for ZLATOBANK JSC to take measures to bring its operations into compliance with applicable laws.
ZLATOBANK JSC repeatedly submitted to the National Bank of Ukraine the resolution plans that fell short of efficient measures required to improve its financial standing and bring its operations into compliance with applicable laws. The shareholders and managers of the bank failed to take timely and sufficient measures to prevent the bank from slipping into insolvency.
In compliance with the requirements of Article 76 of the Law of Ukraine On Banks and Banking, and given the fact that the activities of ZLATOBANK JSC failed to comply with the requirements of applicable banking laws and the NBU regulations, the Board of the National Bank of Ukraine issued Resolution No 105, dated February 13, 2015, on declaring ZLATOBANK JSC insolvent.
In compliance with Article 34, Section VII of the Law of Ukraine On Household Deposit Guarantee System, following the National Bank of Ukraine's decision to declare ZLATOBANK JSC insolvent, the Executive Directorate of the Deposit Guarantee Fund (hereinafter – the Fund) adopted Decision No. 30, dated February 13, 2015, On the Appointment of the Provisional Administration to ZLATOBANK JSC, whereby ZLATOBANK JSC was placed under provisional administration (for the period of three months till 13.05.2015), and the Fund's authorized person – Valerii I. Slavinskyi – was appointed to that effect.
Having considered the proposal of the Fund concerning liquidation of ZLATOBANK JSC, on May 12, 2015, the Board of the National Bank of Ukraine approved Resolution No. 310 on revoking the banking license held by ZLATOBANK JSC and winding up this bank
Information for depositors of ZLATOBANK JSC is available on the Fund's website.
For reference
As of 14 May 2015, 132 banks operate in Ukraine (without banks under temporary administration) including 40 banks with foreign capital.
During 2014 – 2015, within the framework of banking system clean-up, the National Bank of Ukraine adopted 48 decisions to put banks into the category of “insolvent banks”, including 15 decisions made in 2015. In 2014 - 2015, banking licenses were revoked from 37 banks that were liquidated (including the banking licenses of 2 banks located in AR Crimea and Sevastopol, which were cancelled). Among them 18 licenses were withdrawn in 2015.
In total, as of today, the category of insolvent banks comprises 13 banks, while 42 banks are under liquidation.