The NBU Board has declared Misto Bank JSC insolvent after its capital ratios fell by at least 50% from the required minimum levels. The decision was approved in order to protect the interests of depositors and creditors of the bank.
The problems with equity in the bank occurred due to the loss of one of its core assets, a soybean processing enterprise in Kherson oblast. The carrying amount of the real estate was over UAH 271 million (almost 17% of all of the bank’s assets).
As a result, the bank’s equity fell below the required minimum. Taking into account the lack of actions to improve the bank’s standing and given that the operation of Misto Bank JSC did not meet the requirements of banking laws and NBU…