The Individuals’ Deposit Guarantee Fund from Dec. 21 will continue payments to the depositors of Artem-Bank (Kyiv) being under liquidation, according to the fund’s website.
Payments are made until Feb. 3, 2017 through agent banks FUIB and Kredobank depending on the place of registration of the depositor at the time of signing the contract.
As reported, the National Bank of Ukraine (NBU) on Dec. 15, 2016 on the initiative of the Individuals’ Deposit Guarantee Fund decided to revoke the banking license and liquidate Artem-Bank.
The fund on Nov. 16, 2016 introduced temporary administration in the financial institution for one month – until Dec. 15.
The NBU on Nov. 15, 2016 declared Artem-Bank insolvent.
According to the central bank, problems with servicing the loan portfolio of Artem-Bank in the amount of Hr 385 million, which was 80 percent non-performing, led to loss of liquidity since the beginning of November. As a result, the bank failed to fulfill obligations to customers (as of Nov. 8, 2016 they amounted to Hr 20.2 million, or 5.3 percent of its liabilities).
