The National Bank of Ukraine, upon the proposal of the Deposit Guarantee Fund, has issued Resolution № 853, dated 1 December 2015, On Revoking a Banking License and Liquidating Bank National Investments PJSC and Resolution № 856, dated 3 December 2015, On Revoking a Banking License and Liquidating Unicombank PJSC .
Bank National Investments PJSC was declared problematic in September 2015 due to the fact that during September 2015 the Bank’s instant liquidity ratio fell below the regulatory minimum value by 5 percent or more, being five-fold lower than the minimum required level. Following the decision to declare Bank National Investments PJSC a problematic bank, it was established that the clients’ documents which had not been executed by the bank within the terms set by applicable laws had gone unrecorded. The cash-strapped bank was unable to meet its obligations to depositors and other creditors in due time and in full.
In violation of Article 58 of the Law of Ukraine “On Banks and Banking”, which obliges the qualifying shareholders in a bank to take timely measures to prevent the bank from slipping into insolvency, the owner of a qualifying holding in this bank failed to take timely measures to provide sufficient funding to keep Bank National Investments PJSC afloat.
In view of the above, and in order to protect the interests of depositors and other creditors, on 17 September 2015, the NBU Board adopted a decision to declare Bank National Investments PJSC insolvent.
On 6 October 2015, UNICOMBANK PJSC was declared a problematic bank. Nonetheless, the bank's owners did not bother to take any measures to support its liquidity, improve its financial standing and remedy breaches of the NBU regulations.
Given the total loss of liquidity, and in order to protect the interests of depositors and other creditors, on 15 October 2015, the NBU Board adopted a decision to declare UNICOMBANK PJSC insolvent (Resolution № 704).
In compliance with Article 34 of the Law of Ukraine “On Household Deposit Guarantee System”, on the next business day the Executive Directorate of the Deposit Guarantee Fund placed the bank under provisional administration and appointed an authorized person to that effect.