The Individuals' Deposit Guarantee Fund has completed the forensic audit of Bank Nadra (Kyiv), as a result the main causes of the bank's insolvency were defined.

According to the fund's website, as a result of the audit of the bank's activities by KPMG international audit company for the period from January 1, 2006 to February 5, 2015 it was established that the bank's operations were mainly affected by outstanding loans issued to potentially related legal entities and outstanding unsecured loans to individuals issued through intermediaries.

In addition, according to the audit company report, the bank violated the regulations of the National Bank of Ukraine (NBU), NBU refinancing agreements, did not fulfill the requirements for the identification of related parties and lending to new borrowers.

The auditor also defined fraud on the part of the bank's employees, insufficient measures to ensure its liquidity, costs with questionable economic expediency.