On September 14, 2015, the Board of the National Bank of Ukraine issued Resolution No. 602 on withdrawal of the banking license and liquidation of Ukrgazprombank PJSC.
On April 7, 2015, the aforementioned bank was declared insolvent on the grounds that it had carried out hazardous activities.
On August 5, 2015, the National Bank of Ukraine gave its approval to Primestar Energy FZE for the acquisition of a qualifying holding in Ukrgazprombank PJSC. Prior to the approval of the acquisition, the National Bank of Ukraine carried out an identification of the company and its shareholder, verified the business reputation and financial standing, which proved sufficient to enable the acquisition of the bank.
Pursuant to the Law of Ukraine On Household Deposit Guarantee System, a new owner of the aforementioned bank was required to bring Ukrgazprombank PJSC back to solvency and restore its liquidity within a month following the execution of an agreement.
On September 9, 2015, the Deposit Guarantee Fund approached the National Bank with a proposal to revoke the banking license held by Ukrgazprombank PJSC and wind up this bank from September 14, 2015.