Platinum Bank (Kyiv) has denied the information that it had been involved in the purchase of Bank Mykhailivsky before it was recognized insolvent, the bank said in a statement.

"In response to the information that is untrue, we formally declare Platinum Bank has not carried out any mergers, acquisitions and asset purchases over the last year," the report reads.

Previously owner of the Eldorado network of household appliances and electronics Viktor Polischuk in the Shuster Live program said he sold Bank Mykhailivsky to Platinum Bank in the face of its owner Borys Kaufman for UAH 200 million.

"This money was used to pay off my loans in Bank Mykhailivsky. On May 19 I passed absolutely "clean" Bank Mykhailivsky with the chairman and the entire team to Platinum Bank. On May 19 Ihor Doroshenko (the chairman of Bank Mykhailivsky) became chairman of Platinum Bank," Polischuk said.

As reported, the NBU declared Bank Mykhailivsky insolvent on May 23, 2016 and reported that on December 23, 2015 it gave the bank the status of problem in connection with risk activity.