The National Bank of Ukraine (NBU) on March 3 declared Vector Bank (Kyiv) insolvent, the central bank has reported on its website.
Decision No. 112-rsh/BT was made by the NBU board on March 2 over the large reduction of liquidity of the bank and submission of untrue statistics reports.
The NBU said, referring to the statistics report of Vector Bank, that ending stocks on its correspondent account in the central bank is critical: as of March 1, 2017 there were Hr 76,000 on it or 0.1 percent of the bank’s liabilities.
The only owner of the bank did not provide for the financial support to prevent bank’s insolvency.
When Vector Bank was placed on the list of troubled banks facts of hiding the unsettled transactions of clients in accounting reports were established.
“Thus, Vector Bank is not able to implement legal claims of creditors in the full amount and in the terms approved over a lack of funds,” the NBU said.
The central bank said that 95 percent of depositors of the bank – 852 depositors – would receive their deposits in the full amount, as their size is equal or less than the guaranteed sum of Hr 200,000.
The Individuals Deposit Guarantee Fund will pay around Hr 77.7 million.
As reported, the NBU registered Vector Bank on Jan. 31, 2014.
Early August 2016, the founder of Digital Space IT company Andriy Pekal became the full owner of the bank.
The bank ranked 86th among 93 operating banks as of Jan. 1, 2017, in terms of total assets worth Hr 203.834 million, according to the National Bank of Ukraine.
