Ukrsotsbank leads list of banks that participate in removal of insolvent banks from market

11:03, 25.02.2016 1 min read

Ukrsotsbank (Kyiv) leads the list of financial institutions that are preliminarily qualified for the participation in removal of insolvent banks from the market drawn up by the National Bank of Ukraine (NBU), the bank has reported on its website.

According to the report, individuals and companies that are on the list have a priority right to buy assets of bankrupt banks. The bank said that the main criteria for their selection were business reputation and the financial state.

The bank said that the NBU resolution with the list would allow accelerating the process of liquidation of banks, as potential investors have been checked by the regulator and they will be able to submit applications to take part in tenders of the Individuals' Deposit Guarantee Fund to buy assets of insolvent banks under the relaxed procedure.