The Board of the National Bank of Ukraine has decided to revoke the banking license from Bank Concord (Kyiv) and liquidate it from August 1, 2023 due to the bank's systematic violation of legal requirements in the field of preventing and combating money laundering, the financing of terrorism and the proliferation of weapons of mass destruction.

"The share of the financial institution was 0.17% of the assets of solvent banks, so its withdrawal from the market will not affect the resilience of Ukraine's banking sector," the NBU said in a statement.