The executive directorate of the Individuals' Deposit Guarantee Fund on Aug. 28 made the decision to start the liquidation of PJSC Ukrainian Professional Bank (UPB) and Bank National Credit (both based in Kyiv), according to the fund's website.
Liubov Pantina has been appointed as liquidator at UPB, while Vitaliy Palamarchuk has been appointed at Bank National Credit.
Both individuals have been appointed for one year, starting from Aug. 31, 2015.
As reported, the National Bank of Ukraine (NBU) on Aug. 28, 2015, at the proposal of the Individuals’ Deposit Guarantee Fund, decided to revoke the banking licenses of and liquidate PJSC Ukrainian Professional Bank and Bank National Credit. According to the NBU, the two banks failed to fulfill the financial recovery plan after placing them in the category of problematic banks, as a result UPB was classified as insolvent on May 28, and Bank National Credit was classified as insolvent on June 5 this year.
