In the course of removing the insolvent bank CB STANDARD PJSC from the market, on 18 June 2015, the National Bank of Ukraine made a decision on revocation of the banking license and liquidation of the bank.
In view of risky activities performed by CB STANDARD PJSC, which resulted in worsening of its financial performance, as well as in threats to the interests of depositors and other creditors, in February 2015, the bank was classified as a problem bank, and a curator - an employee of the National Bank of Ukraine - was appointed to it.
After rating the bank as a problem bank, indicators of its activities significantly deteriorated. The financial recovery plan submitted to the National Bank of Ukraine by the CB STANDARD PJSC failed to provide sufficient immediate measures aimed at improvement of its financial performance.
Therefore, taking into account worsening of the liquidity and solvency situation of CB STANDARD PJSC, which was confirmed, in particular, by a great number of complaints from the bank customers as well as lack of support from its owners, in February 2015, the bank was declared insolvent.
In compliance with Article 34 Section VII of the Law of Ukraine On Households Deposit Guarantee System, the Executive Directorate of the Deposit Guarantee Fund (the DGF), on the next business day after the bank was declared insolvent by the NBU, placed the bank under a provisional administration for the period from 20 February 2015 to 19 May 2015 (extended up to 18 June 2015), and appointed an authorized person to that effect.
On considering the DGF proposal, the NBU Board adopted Resolution No. 385 of 18 June 2015 on revocation of the banking license and liquidation of the insolvent CB STANDARD PJSC.
One can find actual information for the depositors of CB STANDARD PJSC on the DGF web-site.