🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Bank Kiev placed into receivership

Published 02/10/2009, 04:56 AM

KIEV, Feb 9 (Reuters) - Ukraine's central bank has placed Bank Kiev, the country's 39th bank in terms of assets, into receivership, offering it protection from creditors.

"Bank Kiev has been placed in receivership, a moratorium (on withdrawals) has been introduced, as is the practice," a central bank official said on Monday.

According to central bank data, Bank Kiev's assets stood at 4.9 billion hryvnias ($633 million) as of Jan. 1, its capital totalled 590 million. Individual deposits stood at 2.2 billion hryvnias and corporate deposits at 650 million.

Earlier this month, the central bank placed in receivership Prichornomore bank, ranked 144th, and in January Ukrprombank, ranked 15th.

The central bank has also said it intended to lift restrictions soon on Prominvestbank, which was placed in receivership four months ago to stabilise its finances. Prominvestbank stood in sixth place last October but has fallen to 11th. Russia's VEB state corporation has secured control of 75 percent of the bank in recent weeks .

Several Ukrainian banks have encountered liquidity problems as the global financial crisis grips the country, leading to an outflow of deposits and difficulties in refinancing credits. A total of 182 banks operate in Ukraine. (Reporting by Natalya Zinets, writing by Ron Popeski, editing by Dan Lalor)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.