On February 10, 2015, the National Bank of Ukraine adopted a decision to revoke a banking license and wind up Public Joint Stock Company "MELIOR BANK" ( hereinafter – MELIOR BANK PJSC).
The rationale for this decision is based on the proposal of the Deposit Guarantee Fund to remove the insolvent MELIOR BANK PJSC from the market through its liquidation and the remuneration of household deposits by the Fund.
As a side note, the National Bank of Ukraine adopted a decision to declare MELIOR BANK PJSC insolvent in October 2014 as this bank had committed multiple breaches of the law on Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime or Terrorist Financing, which indicated the bank's involvement in risky activities, thus exposing creditors and depositors to heightened risks.
The National Bank of Ukraine has repeatedly stressed that banks' involvement in risky operations, in particular, in the area of financial monitoring is inadmissible. The National Bank of Ukraine says that it is set to take further corrective actions against those banks that fail to establish an adequate risk management framework in the area of financial monitoring and assume risks arising from the use of services rendered by the bank for legalization (laundering) of the proceeds from crime or terrorist financing, stressing that the response will be proportionate to the threats posed by banks' involvement in risky operations.