On 25 February 2016, the National
Bank of Ukraine, upon the proposal of the Deposit Guarantee Fund, issued
Resolution No. 109 On Revoking a Banking License and Liquidating
AVANT BANK PJSC.
In early December, this bank was
classified as problematic. At the end of 2015, the bank's liquidity
conditions deteriorated significantly. At the same time, the NBU
started receiving complaints from individuals and legal about the bank’s
failure to meet its obligations.
In view of the shareholders’
failure to come up with clear plans as to how to bring the bank back
into solvency and recover its liquidity, and given the bank’s failure to effect
customers’ transactions in due time as mandated by laws, the NBU has
adopted a decision to declare AVANT BANK PJSC insolvent.
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