The Individuals Deposit Guarantee Fund has started looking for authorized persons interested to participate in removal of insolvent Platinum Bank (Kyiv) from the market, the fund has reported on its website.

Preliminarily the authorized persons would have the following ways to remove the bank from the market: liquidation of the bank, selling its assets and liabilities to the accepting bank; the creation of a transition bank and its transfer to the investor with assets and liabilities and further liquidation of the insolvent bank; and the sale of the insolvent bank.

The fund synchronously is holding a tender to select the accepting bank if the fund's top managers decide that the removal of Platinum Bank via its liquidation and refunding of deposits is expensive.

Bids can be submitted until January 26, 2017. The fund will study the bids before February 1, 2017. The terms could be expanded.

The authorized persons are to submit the guarantee fee of UAH 20-30 million depending on the way of removing the bank from the market before January 26, 2017.

The funds that can be refunded by the fund totaled UAH 4.9 billion as of January 11, 2017.

The National Bank of Ukraine (NBU) decided to declare Platinum Bank insolvent due to the fact that as of January 1, 2017 the bank had not reached the positive value of capital.