NBU decided to liquidate bank Veles

NBU decided to liquidate bank VelesThe National Bank of Ukraine (NBU) has decided to remove the banking license of bank Veles and liquidate it, the central bank said on its website.

"The NBU on December 10 decided to remove the banking license of public joint-stock company Bank Veles, as the bank carried out risky transactions, systemically violated law in the financial monitoring area," the NBU said.

The regulator said that in September 2015 the NBU prevented an attempt of the bank to move around $460 million abroad under documents with the signs of fabrication, which was the ground for conducing the bank's audit. The facts of risky transactions were established after the audit.

"Around 90% of all transactions carried out by the bank were risky. In almost one year their volume exceeded $100 million. Additionally, the large number of transactions was settled using fabricated documents," the NBU said.

The central bank said that the liquidation of bank Veles would not affect stability of the financial market, taking into account the small volume of its assets (UAH 314.2 million as of late Q3 2015) and the small number of clients-individuals (around 150).

Bank Veles was founded in 1994.

The bank ranked 105th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 314.177 million, according to the NBU.

Source: Interfax-Ukraine
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Ноябрь 2022    »