The National Bank of Ukraine (NBU) announced that JSC Commercial Investment Bank was recognized as insolvent. This decision was made due to the bank's violation of the requirements of the law and the identification of risky activities.
As noted in the NBU notification, as early as August 2024, the bank was recognized as problematic due to the implementation of risky transactions and the submission of unreliable reporting in order to hide the real financial situation. Since the financial institution did not eliminate the violations and did not correct its activities in accordance with the requirements of the regulator, the National Bank was forced to declare it insolvent.
Despite the seriousness of the situation, this bank's market share was only 0.04% of all assets of solvent banks as of November 1, 2024. Therefore, this decision will not have a significant impact on the stability of the country's banking system.
The Deposit Guarantee Fund of Individuals has already started the procedure for reimbursing bank depositors. All depositors will receive a refund, including accrued interest. The total amount of possible payments will amount to UAH 432 million, and the volume of the bank's highly liquid assets, such as OVDP and certificates of deposit, will reach UAH 890 million.
The NBU continues to monitor the banking sector to ensure stability and prevent similar cases in the future. All depositors who had deposits in the Commercial Investment Bank will be fully compensated at the expense of the Guarantee Fund.
