NBU declared insolvent commercial Bank

The decision on insolvency , the regulator received today, November 6.

In the “Bank Boguslav” not enough almost two thirds to the required amount of capital. The full capitalization was to hold in early July. However, this did not happen. Accordingly, the NBU approved a restructuring plan which included the implementation of a number of measures on capitalization of the Bank.

“During August-October 2017 the management and owners of substantial part of the Bank has taken steps to meet the requirements for capitalization, in particular, through the repayment of non-performing assets, increase the amount of collateral for loans. However, as of November 1, 2017 PJSC “Bank Boguslav” did not ensure implementation of measures envisaged by the restructuring plan in terms of increasing the share capital, therefore the Bank has not achieved the planned amount of the share capital and the planned amount of regulatory capital. The amount of regulatory capital of PJSC “Bank Boguslav” on November 1, 2017 were less than one-third of the minimum level”, – stated in the message of the national Bank.

That is why the regulator and the recognised financial institution is insolvent.

The Deposit guarantee Fund of individuals ‘ deposits notes that as of October 1 of this year, 96% (5.6 thousand people) all depositors of “Bank Boguslaw” had deposits up to 200 thousand UAH, that is will receive compensation in full. Customers with large volumes of deposits will be paid up to the amount guaranteed by the Fund. Total payments will be about 178 million.

As of November 1, 2017, the owners of a substantial participation in PJSC “Bank Boguslav” – Vladimir Romanenko Natalia Vakulenko.

NBU declared insolvent commercial Bank

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