UNIAN: NBU sees no grounds for recognizing Russian banks' subsidiaries insolvent - May. 22, 2018

UNIAN: NBU sees no grounds for recognizing Russian banks’ subsidiaries insolvent

By UNIAN.

Published May 22, 2018 at 12:33 pm

The National Corps Party graffitied VTB Bank on Pushkinska Street on Feb. 3 in protest of subsidiaries of Russian banks operating in Ukraine. Ukrainian activists on Feb. 2 protest the presence of Russia’s Sberbank in Ukraine.The protesters urged depositors to withdraw their money from the bank as part of a national protest against Russian-owned banks in Ukraine. Russia has been waging war against Ukraine for nearly three years, after invading and illegally annexing the Crimean peninsula.

Photo by Pavlo Podufalov

The National Bank of Ukraine (NBU) sees no grounds for recognizing Russian state-owned banks’ subsidiaries in Ukraine, namely Sberbank, Prominvestbank, VTB Bank and BM Bank, insolvent.

“Today, we do not see any preconditions. If there are no manipulation and destabilization of the situation, one of the two civilized ways of withdrawing these banks from the market will be implemented,” NBU Deputy Governor Kateryna Rozhkova told UNIAN, adding that the regulator works with the financial institutions on a gradual reduction in their assets and liabilities.