Fidobank depositors to recieve UAH 1.82 bln compensation - Ukrainian DGF

Fidobank depositors to recieve UAH 1.82 bln compensation - Ukrainian DGFThe Deposit Guarantee Fund estimates that the total sum of guaranteed compensation payments to 90,000 individuals who kept their deposits with Kyiv-based Fidobank, which was later declared insolvent, is UAH 1.82 billion, the Fund's said on its website.

"Assets belonging to 97.7% of depositors will be fully compensated at the expense of the Deposit Guarantee Fund. During the first day of work of interim administration, one of the priorities is to draw up a register of the depositors to start compensation payments on time," it said.

The information about the size of the guaranteed compensation payments was formed on the basis of reports provided by the bank to the Deposit Guarantee Fund by May 11, 2016, but it is subject to updating.

As Interfax-Ukraine reported earlier, the National Bank of Ukraine (NBU) declared Fidobank insolvent on May 20. Interim administration was introduced for the period from May 20 to June 19, 2016.

Read also: Ukrainian DGF started to return money to Bank Premium depositors today

Fidobank (formerly SEB Bank, Agio Bank) was established in 1991.

Oleksandr Adarych is a majority shareholder in the bank. He also holds stocks in the Kyiv-based bank, Eurobank.

Fidobank ranked 22nd among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 7.616 billion, according to the National Bank of Ukraine.
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