On 18 July 2016, the National Bank of Ukraine, upon the proposal of the Deposit Guarantee Fund, issued Decision No. 142-rsh on Withdrawal of the Banking License and Liquidation of Fidobank PJSC.
On 20 May 2016, the NBU declared Fidobank PJSC insolvent. Due to the outflow of deposits the bank encountered difficulty in meeting its obligations to customers.
As of 20 May 2016, the total amount of outstanding transactions that Fidobank PJSC failed to execute exceeded UAH 500 million (9% of the Bank’s liabilities).