OREANDA-NEWS. For the first time ever, the Board of the National Bank of Ukraine has decided to approve the liquidation of FINANCE BANK PJSC and INVESTMENT TRUST BANK upon the initiative of their owners and revoke their licenses.

The rationale behind the decision by the bank’s shareholders and ultimate beneficiary owner was their intention to shift  their focus  to other activities.

“It is an appropriate and responsible way to withdraw from the market. Banking business is specific, exposed to risks, and higly regulated.  Under such circumstances, a bank’s owner may opt   to focus on its core business and give up banking business. In the case of voluntary liquidation, a bank meets its obligations to customers  and  the Deposit  Guarantee Fund is not put under financial burden  Accordingly, the reputation of bank’s owners will not be tarnished,” said NBU Deputy Governor Ms Rozhkova.

The NBU urged the shareholders and owners of FINANCE BANK PJSC and INVESTMENT TRUST BANK to bring their ownership structures with transparency requirements. The controller of the banks was identified. However, he had no intention to engage in banking business and opted for the voluntary liquidation of financial institutions. 

The total amount of these banks’ liabilities to legal entities and individuals was less than UAH 11 million. The amount of liquid funds available to  FINANCE BANK PJSC and INVESTMENT TRUST   is sufficient to enable these banks to settle their obligations  without external borrowings.