The National Bank of Ukraine (NBU) has decided to remove a license of bank Premium (Kyiv) and liquidate it for violation of financial monitoring laws, the regulator has reported on its website.

The decision is outlined in NBU resolution No. 68/BT dated February 10, 2016.

"The facts of violation of law were established during the off-schedule audit of bank Premium in connection with financial monitoring issues," the regulator said.

The NBU said that the Individuals' Deposit Guarantee Fund will pay funds to 97% of depositors of the bank worth some UAH 150 million.

The central bank said that the liquidation of the bank would not affect stability of the financial market.

Bank Premium was founded in 2007. As of April 1, 2015, its majority shareholders were Leonid Pervak (33%) and Larysa Smyrnova (33.5%).

The bank ranked 56th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 1.754 billion, according to the NBU.