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National Bank of Ukraine adopted a decision on withdrawal of the banking license and liquidation of EAST-INDUSTRIAL COMMERCIAL BANK PJSC

The National Bank of Ukraine has adopted a decision on withdrawal of the banking license and liquidation of EAST-INDUSTRIAL COMMERCIAL BANK PJSC.  On September 9, 2015, the National Bank of Ukraine Board issued Resolution No. 595 to this effect.

Given the intensification of the anti-terrorist operation in Luhansk, EAST-INDUSTRIAL COMMERCIAL BANK PJSC temporarily suspended its operations from July 18, 2014.   As a result, the National Bank of Ukraine blocked initial payments effected through the system of electronic payments (the SEP), effective from July 21, 2014, and temporarily removed this bank from the register of SEP participants, effective from November 11, 2014.

In accordance with Law of Ukraine No. 629-VIII of July 16, 2015, On Amendments to Certain Legal Acts of Ukraine on streamlining the household deposit guarantee scheme and the resolution of insolvent banks, the National Bank of Ukraine shall adopt a decision on "withdrawal of the banking license and liquidation of the banks that are incorporated in the territory covered by the anti-terrorist operation and have ceased their operations and participation in the system of electronic payments of the National Bank of Ukraine".

EAST-INDUSTRIAL COMMERCIAL BANK PJSC has not been re-incorporated outside the ATO area and has failed to resume participation in the system of electronic payments, which led the National Bank of Ukraine to adopt a decision on withdrawal of the banking license and liquidation of this bank.

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