Deposit Guarantee Fund introduces temporary administration in VTB Bank

12:22, 28.11.2018 1 min read

The Individuals' Deposit Guaranteeing Fund has started the procedure of withdrawing PJSC VTB Bank from the market by introducing temporary administration for one month from November 28 to December 27, 2018.

According to the fund's website, Yulia Zabolotna has been appointed temporary administrator of the credit institution.

The beginning and procedure of paying guaranteed amount to depositors will be announced additionally on the fund's website.

As reported, the National Bank of Ukraine (NBU) on November 27 declared VTB Bank insolvent. The relevant decision was approved by NBU Board resolution No. 796-rsh/BT.

According to the NBU, 97% of VTB Bank depositors (59,108 persons) will receive deposits in full, since their size does not exceed the guaranteed amount of UAH 200,000. Larger deposits will be reimbursed within the specified amount. The fund will provide the payment of a guaranteed amount for a total of UAH 942.7 million, while as of October 1, 2018 the amount of customer deposits on the bank's balance sheet stood at UAH 3.676 billion.