The Individuals Deposit Guarantee Fund has started searching for authorized persons interested in participating in the removal of insolvent Fortuna-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 Fortuna-Bank via its liquidation and refunding of deposits is expensive.

Bids can be submitted until February 14, 2017. The fund will study the bids before February 20, 2017. The terms could be expanded.

The authorized persons are to submit the guarantee fee of UAH 20-40 million depending on the way of removing the bank from the market before February 14, 2017.

The funds that can be refunded by the fund totaled UAH 93 million as of January 26, 2017.

As reported, the Deposit Guarantee Fund introduced temporary administration to the bank from January 27 for period of one month.

Board of the National Bank of Ukraine (NBU) on January 26 decided to place public joint-stock company Fortuna-Bank to the list of insolvent banks.

The NBU said that 91% (2,167 people) of all depositors of the bank will receive their deposits in full amount, as their size does not exceed the sum guaranteed by the Deposit Guarantee Fund (UAH 200,000). In general, the central bank assesses payment by the fund at UAH 96 million.

Fortuna-Bank ranked 38th among 100 operating banks as of October 1, 2016, in terms of total assets worth UAH 2.507 billion, according to the NBU.

Its key owner with 99.637% of the share capital is Motrona Tyschenko.