The Individuals' Deposit Guarantee Fund has launched the liquidation procedure of InterCreditBank and Aktabank (both based in Dnipropetrovsk), the Fund announced on its website.

The withdrawal of the banks' licenses and their liquidation are stipulated in central bank resolutions No.27 dated January 16 and No. 19 dated January 15.

Fund representative Volodymyr Kosiuha was appointed InterCreditBank's authorized liquidator and Yulia Prykhodko will be in charge of Aktabank's liquidation.

InterCreditBank as of the beginning of October 2014 ranked 145th in terms of overall assets (UAH 334.507 million), while Aktabank was 54th (UAH 1.291 million) among 166 operating banks.

Interim administration at InterCreditBank was introduced on October 10, 2014, and at Aktabank on September 17, 2014.