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Temporary administration at insolvent Eurobank prolonged - Ukrainian DGF

Temporary administration at insolvent Eurobank prolonged -  Ukrainian DGFThe Individuals' Deposit Guarantee Fund has decided to prolong temporary administration at insolvent Eurobank for one month – until August 16, 2016 inclusively, according to a report in the National Commission for Securities and the Stock Market.

Temporary administrator Vadym Kononets's powers were extended for one month.

On June 17 the Individual Deposit Guarantee Fund on the basis of the decision of the National Bank of Ukraine on declaring Eurobank insolvent introduced temporary administration in the financial institution. Administration was introduced for one month - until July 16 inclusive.

On June 17, the National Bank of Ukraine (NBU) declared Eurobank insolvent.

The regulator said that 98% of depositors (8,000) will receive their deposits in full.

The sum to be refunded as of June 15, 2015 totaled some UAH 217 million.

Eurobank was founded in 2005. Its assets as of April 1, 2016, were estimated at UAH 1.728 billion, which ranked the bank rank 47th among 109 operating banks, according to the NBU.
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