You're reading: Deposit Guarantee Fund starts payments to Fortuna-Bank depositors

The Individuals’ Deposit Guarantee Fund from Feb. 23, 2017 begins payments to the depositors of PJSC Fortuna-Bank (Kyiv) being under liquidation through the offices of seven agent banks that are connected to the automated system of payments, including Pravex-Bank, Alfa Bank, Kredobank, Ukrgasbank, FUIB, TAScombank and Bank Pivdennyi, according to the fund’s website.

According to the guarantee fund, payments are made in the amount of the deposit, including interest accrued on the day of start of withdrawing the bank from the market but no more than Hr 200,000.

As reported, with reference to the National Bank of Ukraine, 91 percent of all Fortuna-Bank depositors will get their deposits in full because their size does not exceed the guaranteed sum of Hr 200,000.

The National Bank of Ukraine on Feb. 21, 2017 decided to revoke the banking license and liquidate Fortuna-Bank.

Fortuna-Bank was declared insolvent on Jan. 26, 2017. The deposit guarantee fund from Jan. 27 introduced temporary administration in the financial institution for a period of one month.