The Board of the National Bank of Ukraine has adopted a decision to declare VTB Bank JSC insolvent in order to protect the interests of depositors and creditors of the bank. The decision was adopted pursuant to the requirements of Article 76 of the Law of Ukraine On Banks and Banking.
Due to the decrease in liquidity of VTB Bank JSC and the further worsening of its financial standing over the last month, the NBU declared VTB Bank JSC a problem bank on 13 November 2018. On that date, the deadline was set for VTB Bank JSC to take measures to bring its activity in line with the legislative requirements.
Taking into account the lack of real actions by the owners of VTB Bank JSC to prevent the insolvency, as well as the lack…