The Individuals' Deposit Guarantee Fund could refund UAH 7.116 billion out of UAH 10.045 billion of liabilities of VAB Bank (Kyiv) to its depositors as of November 21, 2014, reads a posting on the website of the fund.

According to the fund, the bank's liabilities to companies stood at UAH 482.981 million.

The fund also said that it has started looking for investors for the bank. The potential investors could choose three ways of removing the bank from the market: sale of all or a part of assets and liabilities of the bank in favor of the accepting bank; the creation of a transition bank, with the transfer of its assets and liabilities to the investor, or the sale of the bank in general. The documents could be submitted by December 15, 2014.

As reported, temporary administration at VAB Bank was introduced from November 21, 2014 to February 20, 2015.

VAB Bank has been operating on the financial market of Ukraine since 1992. Oleh Bakhmatiuk owns an 86.778% stake in the bank.

In terms of total assets as of October 1, 2014 (UAH 23.973 billion) the bank ranked 16th among the 173 Ukrainian banks.