Assets of municipal companies in insolvent bank Khreschatyk (Kyiv) are 10% of total assets, Deputy Head of Kyiv City Administration Hennadiy Plis said at a press conference on Wednesday.

He said that some UAH 348 million of municipal companies' funds as of January 1, 2016 were on current accounts of the bank and UAH 131 million on deposit accounts. Since early 2016 as of April 1 Kyiv municipal enterprises withdrew no more than 25% of their assets to minimize risks. Some 297 million as of April 1, 2016 were left on current accounts and UAH 65 million on deposit accounts.

He said that this could not affect bank's entire liquidity.

"The sum of assets decreased by UAH 115 million since early 2016, which is 25% of total assets of municipal companies placed in the bank. The sum is small compared to the bank's total portfolio and it could not affect the situation," he said.

He declined to comment on information how long the companies' assets will be frozen or if the companies could lose the assets. This will be known after the preliminary analysis from temporary administration in the bank.

Director of the finance department at Kyiv City Administration Volodymyr Pepik said that funds from the budget were not placed in bank Khreschatyk. The bank did not any long-term projects with the city.

Plis recommends Kyiv residents who had the Kyiv resident cards in bank Khreschatyk to re-register them in Oschadbank.

The National Bank of Ukraine (NBU) on April 5 recognized Bank Khreschatyk (Kyiv) insolvent.