The Individual Deposit Guarantee Fund on the basis of the decision of the National Bank of Ukraine (NBU) dated January 10, 2017 on declaring Platinum Bank (Kyiv) insolvent from January 11 introduced temporary administration in the financial institution.

According to the fund, temporary administration will work at the bank one month until February 10 inclusive. The fund appointed Yuriy Irkliyenko, who previously was temporary administrator and then liquidator of Bank Mykhailivsky, temporary administrator of Platinum Bank.

As reported, the NBU decided to declare Platinum Bank insolvent due to the fact that as of January 1, 2017 the bank had not reached the positive value of capital.

On December 29, 2016 Platinum Bank announced capital increase of UAH 120 million within the framework of the capitalization program previously announced by the shareholders.