From 4 December 2017, JSCB Industrialbank PJSC became the assignee of assets and liabilities of JSB Express-Bank PJSC.
The National Bank of Ukraine removed JSB Express-Bank PJSC from State Registry of Banks. The banking license and general license for FX operations were revoked from the bank. The respective decision No. 796-D was adopted by NBU Board on 14 December 2017.
The decision is based on the completion of JSB Express-Bank PJSC reorganization under the simplified procedure under the Law of Ukraine On Simplifying Bank Reorganization and Capitalization Procedures No. 1985-VІІІ dated 23 March 2017.
JSB Express-Bank PJSC and JSCB Industrialbank PJSC are the first banks in Ukraine that performed a reorganization under a simplified procedure, the main stages of which took four months from the date of receiving the permission for reorganization.
The Law of Ukraine On Simplifying Bank Reorganization and Capitalization Procedures provides an opportunity to conduct a reorganization of banks via their merger under the simplified procedure, the term of which was reduced by several times from eighteen to three-to-four months.