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National Bank of Ukraine winds up the insolvent ENERGOBANK PJSC

As part of the already launched resolution procedure in respect of ENERGOBANK PJSC, on June 11, 2015, the National Bank of Ukraine adopted a decision on withdrawal of the banking license and liquidation of this bank.

Given ENERGOBANK PJSC's involvement in risky activities, as evidenced by the deteriorating performance indicators, in January 2015 the bank was declared a problem bank and the NBU employee was appointed as a supervising officer to this bank.

After this bank had been adjudicated a problem bank, the senior management team of the National Bank of Ukraine held a succession of meetings with the managers and potential investors of ENERGOBANK PJSC in an effort to stabilize the situation.    However, no credible and reasonable proposals on how to put this bank back on a sound footing have been submitted to the National Bank of Ukraine.

Considering the deterioration in the bank's liquidity position and solvency, as evidenced by numerous complaints filed by this bank’s customers, and the lack of timely support from the bank's owners, in February 2015 the bank was declared insolvent.

In compliance with Article 34 of the Ukrainian Law On Household Deposit Guarantee System, the Executive Directorate of the Household Deposit Guarantee Fund (the DGF), on the next business day after the bank was declared insolvent by the NBU, placed the bank under provisional administration for the period from 13.02.2015 to 12.05.2015 (prolonged until June 11, 2015), and appointed an authorized person to that effect.

Having considered the DGF proposal, the Board of the National Bank of Ukraine passed Resolution No.370, dated June 11, 2015 on revoking a banking license and winding up ENERGOBANK PJSC.

Information for depositors of ENERGOBANK PJSC is available on the Fund's website.

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