The Individuals' Deposit Guarantee Fund on the basis of the decision of the National Bank of Ukraine (NBU) of April 7, 2017 on declaring Finbank (Odesa) insolvent on April 10 introduced temporary administration in the financial institution for one month, the fund said on its website.

Viktoria Stepanets has been appointed temporary administrator of the bank.

As reported, the NBU board by decision No. 217-RSh/BT declared Finbank insolvent.

The National Bank noted that following the results of examination of Finbank, held on April 1, 2016, the NBU board in October 2016 approved the necessary amount of capitalization for the financial institution. Finbank, in turn, submitted a program of capitalization to the regulator.

However, as of April 1, 2017 these measures had not been implemented.