The Individuals Deposit Guarantee Fund has sent a proposal to the National Bank of Ukraine (NBU) to annul the banking license of Platinum Bank (Kyiv) from February 24, 2017 and liquidate the bank, the fund has reported on its website.

The fund made the decision on February 20, 2017.

"The Deposit Guarantee Fund on February 17, 2017 declared void the tender to remove insolvent Platinum Bank from the market in the ways foreseen in Article 39 of the law on the individuals deposit guarantee system," the fund said.

As reported, TAScombank and the First Ukrainian International Bank (FUIB, both based in Kyiv) were interested in purchase of assets of insolvent Platinum Bank. The potential buyers first show their interest in the retail portfolio of the bank.

The fund has suspended payments under agreements which expired before interim administration was introduced to the bank. The amendments to the general list of the bank's depositors are to be made.

Payments of the guaranteed sum in the liquidation period will start no later than March 1, 2017.

The Deposit Guarantee Fund extended interim administration at Platinum Bank until March 10, 2017.