NBU will liquidate Avant-Bank

NBU will liquidate Avant-BankThe National Bank of Ukraine (NBU) has decided to revoke the banking license and liquidate Avant-Bank, the NBU reported on its website.

"The National Bank of Ukraine on February 25, 2016 at the suggestion of the Individuals' Deposit Guarantee Fund adopted resolution No. 109 to revoke the banking license and liquidate PJSC Avant-Bank," reads a statement.

According to the report, the bank was classified as problem in the beginning of December 2015.

Read also: Deposit Guarantee Fund introduces temporary administration in Avant-Bank for month

"At the end of the year the liquidity of PJSC Avant-Bank deteriorated significantly. At the same time, we've started receiving complaints from individuals and legal entities with respect to the bank's non-fulfilment of its obligations. The regulator explained the decision was made on the basis of the bank shareholders' having no clear plans for the restoration of the bank's liquidity and the failure to perform customers' operations in the period established by the legislation," reads the report.
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