On 17 December 2015, the National Bank of Ukraine, upon the proposal of the Deposit Guarantee Fund, issued Resolution No. 898 On Revocation of the Banking License and Liquidation of Bank Finance and Credit PJSC.
In view of Bank Finance and Credit PJSC’s failure to take the announced measures to improve the Bank’s liquidity, the lack of sufficient measures from the Bank’s owners to prevent this financial institution from slipping into insolvency, and given that Bank Finance and Credit PJSC’s activities failed to meet the requirements of applicable banking laws and NBU regulations, the NBU Board adopted a decision to declare Bank Finance and Credit PJSC insolvent.
In compliance with Article 34 of Section VII of the Ukrainian Law On Household Deposit Guarantee System, the Executive Directorate of the Household Deposit Guarantee Fund (the DGF) issued Resolution No.171, dated 17 September 2015, to place Bank Finance and Credit PJSC under provisional administration and appoint a provisional administrator to this bank for three months from 18 September until 17 December 2015 including.