The Board of the National Bank of Ukraine has adopted a decision on declaring Avant-Bank PJSC insolvent (hereinafter - the Bank). Resolution No. 44 of 29 January 2016 has been issued to this effect.
Funds of 96% of depositors will be reimbursed by the Deposit Guarantee Fund (hereinafter - the DGF) in full. The DGF will pay out a total of about UAH 550 million in compensation to eligible depositors.
The Bank was classified as a problem bank in early December 2015. At the year-end, the Bank’s liquidity significantly deteriorated. At the same time, individuals and legal entities began filing complaints on the Bank’s failure to meet its obligations.
Given the lack of clear plans of shareholders to replenish the Bank's liquidity and failure to conduct customers’ transactions in the legally stipulated period, the NBU made a decision to classify Avant-Bank PJSC as insolvent.