18:55 22.06.2016

Deposit Guarantee Fund starts seeking investor for Eurobank

1 min read
Deposit Guarantee Fund starts seeking investor for Eurobank

The Individuals' Deposit Guarantee Fund has started seeking qualified investors for the withdrawal of insolvent Eurobank from the market, according to the fund's website.

According to the report, the fund offers the liquidation of the bank with the disposal of its assets in favor of the receiving bank, the creation of a transition bank with the transfer to it of the assets and liabilities of the insolvent bank and the subsequent liquidation of the insolvent bank, the sale of the insolvent bank to the investor.

The amount of individuals' money to be reimbursed by the fund as of June 16 was UAH 321,200.

As reported, on June 17 the Individual Deposit Guarantee Fund on the basis of the decision of the National Bank of Ukraine on declaring Eurobank insolvent introduced temporary administration in the financial institution.

Administration was introduced for one month - until July 16 inclusive.

Vadym Kononets was appointed temporary administrator for the relevant period.

On June 17, the NBU declared Eurobank insolvent.

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