NBU decides to liquidate Bank Kontrakt

The National Bank of Ukraine (NBU) on December 10 at the suggestion of the Individuals' Deposit Guarantee Fund made resolution No. 876 on revoking the banking license and liquidating Bank Kontrakt.

According to the website of the NBU, in September this year the central bank received a number of complaints from businesses about the failure of making payments through Bank Kontrakt, as a result a curator was introduced in the bank for a more detailed examination of the situation. The curator found a significant amount of non-made customer payments that were hidden behind different balance sheet items. In addition, the official revealed a shortage of more than UAH 12 million: UAH 5.1 million actually available at the cash department against UAH 17.1 million indicated in the reports provided to the NBU.