The share of the financial institution is 0.1% of the assets of solvent banks, so the bankruptcy of Forward will not affect the stability of the Ukrainian banking sector.
JSC Bank Forward on February 7 was classified as insolvent. This was reported by the press service of the NBU.
It was noted that the decision was made in connection with the failure of the bank to bring its activities in accordance with the requirements of the law, including regulatory legal acts of the NBU after it was classified as problematic. And also, taking into account the further significant and irreversible deterioration in the financial condition of this bank in the absence of effective measures to improve it and the impossibility and lack of planned JSC Bank Forward capitalization.
According to the NBU, the share of the financial institution is 0.1% of the assets of solvent banks, so the bankruptcy of this bank will not affect the stability of the banking sector of Ukraine.
The National Bank added that, apart from the two Russian subsidiary banks, it was only the third bank to go bankrupt since the beginning of the war.
It will be recalled that in August 2022, the board of the National Bank decided to declare Bank Sich JSC insolvent due to the bank’s failure to fulfill its obligations to the NBU in the refinancing of loans due to insufficient funds.
Earlier, the NBU decided to revoke the banking license and liquidate Kharkiv Megabank.
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Source: korrespondent
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