Bank " This decision was made by the NBU in connection with the failure of the bank to fulfill its obligations to the National Banks on refinancing loans within the period established by the agreement.. Reason: lack of funds.

According to the NBU, in accordance with Article 76 of the Law of Ukraine "

The owners of the bank, in accordance with Article 58 of the Law of Ukraine " However, the owners of Bank Sich JSC did not take effective measures to improve its financial condition and to ensure the fulfillment of their obligations to the National Bank on time.

In addition, it was taken into account that the activities of Bank Sich JSC were characterized by a poor-quality corporate governance system, an inefficient business model, and the implementation of risky operations, which is confirmed by unprofitable activities and the negative dynamics of the financial institution's capital ratios.

The NBU emphasizes that classifying a bank as insolvent in no way affects the stability of the banking sector of Ukraine, which today is stable and solvent.. The share of the financial institution as of August 1, 2022 amounted to 0.3% of the net assets of solvent banks.

Each depositor of Bank Sich JSC will receive compensation from the Deposit Guarantee Fund for individuals in the full amount of the deposit, including interest accrued as of the end of the day preceding the day the procedure for withdrawing the bank from the market begins, except for the cases provided for by part four of Article 26 of the Law of Ukraine "

In general, the possible amount of payments of the guaranteed amount to depositors as of July 1, 2022 is 1,229.7 million? UAH.

As the editor of the ZN economics department explains. UA Yulia Samaeva, the reason for the bank's insolvency lies in its rather specific business model. It lies in the fact that the bank bought government bonds for NBU refinancing funds. And when the National Bank raised the discount rate to 25%, refinancing became very expensive. At the same time, the yield of government bonds did not increase significantly, remaining at the level of 10-11%. So the bank simply could not return the borrowed funds to the NBU. Fortunately, thanks to such a strange business model, the bank practically did not work with individuals, so there will be few affected depositors, and all of them will receive a refund from the DGF.

Unfortunately, Bank Sich is not the only one that tried to make money exclusively according to this scheme, so a number of further bankruptcies are ahead of us, emphasizes Yulia Samaeva. However, none of these banks is large and significant for the financial system of the country as a whole..

As previously reported, the National Bank plans to revoke the license of Sich Bank, which is associated with businessman Dmitry Firtash, in the near future.. And this is just the beginning of the "