NBU declares Vector Bank insolvent

Source : 112 Ukraine

It is stated that 95% of bank depositor will fully get their deposits back
13:03, 3 March 2017

The NBU management board took the decision to add a public company Vector Bank to the list of insolvent banks from March 2, 2017 in accordance with Article 76 of the Law of Ukraine on banks and banking activity. The press-service of the NBU reports this.

According to the statistic data of the Vector Bank, the remaining balance of the correspondent account in the National Bank is critically low as for March 1, 2017 and makes $2 620 or 0.1% from the bank’s commitments.

“After declaring the Vector Bank a bankrupt, the facts of failure to eject the clients’ documents in the accountancy were found. Thus the Vector Bank is not able to fulfill legal creditors’ requirements due to the insufficiency of funds.


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The financial indexes of the banking activity also went worse. Taking into account the mentioned above and in accordance with Article 3 of the 1st part of the Law of Ukraine on Banks and banking activity, the National Bank of Ukraine has to take the decision on declaring the bank a bankrupt,” reports the NBU.

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It is also stated that 95% of bank’s depositors, e.i. 852 persons, shall fully get their deposits back, as the amount of their deposits do not exceed $6 900, which is guaranteed by the Deposit Insurance Fund. The clients with the big deposits shall get their money back up to the amount of the sum guaranteed. The Fund shall compensate the guaranteed amount payoff in the volume of $2.68 million.

Related: European Parliament to review facts of bankruptcy of Ukrainian banks

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