The Deposit Guarantee Fund from July 8, 2017 suspends payments to depositors of insolvent Fidobank (Kyiv) to finish the creation of a list of depositors who have the right to have their deposits refunded in the period of the bank's liquidation.

The fund said on its website that the date when the payments are resumed will be announced later.

The executive directorate of the Deposit Guarantee Fund extended the deadline for submitting bids from accepting banks for the withdrawal of insolvent Fidobank from the market until July 5, 2016.

The deadline for payment of a guarantee fee to participate in an open tender is until July 5. Bids will be considered until July 11.

The fund extended until June 9 the term for receiving applications from the banks wishing to participate in the tender to withdraw Fidobank from the market until June 24, 2016.

The term was extended in view of continued interest from potential bidders.

Temporary administration was introduced in the insolvent bank for one month from May 20 to June 19, 2016.

Fidobank (formerly SEB Bank, Agio Bank) was established in 1991.

Oleksandr Adarych is a majority shareholder in the bank. He also holds stocks in the Kyiv-based bank, Eurobank.

Fidobank ranked 22nd among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 7.616 billion, according to the NBU.