The National Bank of Ukraine (NBU) on Nov. 4 declared RwS Bank insolvent, citing its continued risky activity, failure to comply with prudential regulations, and inability to restore its financial stability despite being classified as problematic since July.
The bank ignored the NBU’s order to submit a revised financial recovery plan and continued to violate capital adequacy ratios.
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Despite Russia’s full-scale invasion, Ukraine’s central bank remains assertive in detecting money-laundering risks and potential embezzlement in the banking sector.
In its press release on the matter, NBU said the bank’s operations posed a threat to the interests of…