OREANDA-NEWS. The National Bank of Ukraine declared UKRBUSINESSBANK PJSC insolvent.

As the First Deputy Governor of the National Bank of Ukraine Oleksandr Pysaruk said, due to rising risks in UKRBUSINESSBANK PJSC activity, urgent need to strengthen control over the bank's activity and to avoid its possible failure to fulfill the obligations to its depositors and other creditors, the National Bank of Ukraine introduced a special monitoring regime at UKRBUSINESSBANK PJSC through the appointment of a curator.

"However, the owners of UKRBUSINESSBANK PJSC had not taken urgent measures to improve the bank's liquidity. The situation deteriorated rapidly. Bank did not fulfill its obligations to the clients on money transfers and failed to comply with the regulations of the National Bank of Ukraine", - said Oleksandr Pysaruk.

He added, that considering the above, the National Bank of Ukraine took a decision to declare UKRBUSINESSBANK PJSC a problem bank and demanded that the bank took immediate measures to bring its activity in line with the requirements of the law.

Nevertheless, UKRBUSINESSBANK owners and managers failed to develop a plan of financial recovery and submit it to the NBU.

Taking into consideration the above, by virtue of Article 76 of the Law of Ukraine On Banks and Banking, the Board of the National Bank of Ukraine issued a Resolution No. 844 of December 25, 2014, declaring the PUBLIC JOINT-STOCK COMPANY UKRAINIAN BUSINESS BANK insolvent.