The National Bank of Ukraine has decided to revoke the banking license and liquidate Megabank JSC, the press service of the regulator reports..

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This is the first liquidated Ukrainian bank since the beginning of a full-scale invasion of the Russian Federation. Most of the authorized capital of the bank (60.74%) belongs to Viktor Subbotin, CEO of Turboatom OJSC.

According to the NBU, as of March 1, 2022, in terms of assets, Megabank ranked 24th (UAH 11.193 billion) among 69 banks operating in the country.

On June 2, 2022, the Board of the National Bank of Ukraine decided to classify Megabank JSC as insolvent due to the bank's failure to bring its activities in line with the requirements of Ukrainian legislation, including the regulatory legal acts of the National Bank of Ukraine.

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Later, the Deposit Guarantee Fund announced that employees of Megabank, declared insolvent by the National Bank of Ukraine, were blocking access to their systems, which should take over the management functions and pay the bankrupt bank's depositors 4. UAH 4 billion, which Megabank itself is no longer able to pay.