Ukraine’s Deposit Guarantee Fund has extended the period of the liquidation of National Bank for Development (VBR) belonging to Oleksandr Yanukovych, the son of the ousted Ukrainian president Viktor Yanukovych, until 2020, reads the message published on the Fund’s website.
The Fund also prolonged the authority of the bank’s liquidator, Serhiy Mykhno. As UNIAN reported earlier, the National Bank of Ukraine (NBU) on December 21, 2014, decided to cancel VBR’s banking license and liquidate it. Interim administration was introduced at the bank on November 27, 2014, as the bank had been designated as insolvent.
