The NBU classified Megabank as insolvent

The Board of the National Bank of Ukraine Megabank in insolvent. This was announced on June 3 by the press service of the regulator.

It was noted that the problems with bank activities were not caused by the introduction of martial law – they started before the war started.

The NBU recalled that on February 3, it was decided to attribute the JSC Megabank in the problem category. The reasons for this step are significant violations of regulatory legal actions of the regulator in terms of credit risk assessment, systematic lending to related parties, a large amount of non-core assets on the balance sheet, and non -compliance with capitalization/ restructuring plan based on 2021 stress test results.

because Megabank not removed the identified violations within the prescribed period, it is classified as insolvent.

“JSC shareholders Megabank they did not provide financial support for timely and full fulfillment of obligations to customers of the bank and for the payment of the customer, as evidence of numerous complaints, “said the NBU.

It is emphasized that the decision of the regulator will not affect the stability of the banking sector of Ukraine, which is now stable and solvent.

“Every JSC contributor Megabank will receive from the Deposit Guarantee Fund a refund of the full amount of the deposit, including interest accrued at the end of the day before the day of the start of the procedure for withdrawal of the bank from the market, “added the National Bank.

Earlier, the Verkhovna Rada introduced a 100% guarantee on bank deposits for the period of martial law.