NBU supervision over Platinum Bank was appropriate - court

16:36, 19.10.2018 1 min read

The District Administrative Court of Kyiv on October 17 issued a ruling, which completely refused to satisfy the claims of Platinum Bank's depositors to the National Bank of Ukraine (NBU) on recognizing an unlawful inaction regarding the failure to take appropriate measures to protect the legitimate interests of depositors and creditors of this bank, the report on the NBU's website says.

"Having closely studied the case files, the Kyiv District Administrative Court has ruled for the NBU, i.e. that the regulator conducted proper bank supervision over PJSC Platinum Bank," the report says.

"Courts have repeatedly ruled that the NBU appropriately supervised banks that were later shut down as insolvent," it states.

"In 2014–2018, the NBU won 69 lawsuits contesting the central bank's omission with respect to banks that were declared insolvent or liquidated. At the same time, 88 lawsuits are still being considered by courts of various instances," according to the document.

PJSC Platinum Bank was declared insolvent on January 10, 2017 due to capital shortage.