The National Bank of Ukraine decided to revoke the banking license and liquidate Megabank.
The NBU reported this on July 22.
On June 2, 2022, the board of the National Bank classified Megabank as insolvent due to significant violations in terms of credit risk assessment, insider lending and non-fulfillment of the recapitalization plan. All Megabank depositors will receive 100% of the amount of their deposits, including interest (the funds will be paid from the Individual Deposit Guarantee Fund).
The National Bank repeatedly drew the attention of the bankʼs management and its shareholders to the presence of potential risks in the bankʼs activities, but the bankʼs shareholders did not financially support it for the timely fulfillment of obligations to clients.
- In 2019, Megabank appeared in the manipulation of donations to the Batkivshchyna party. Then the court allowed the SBU to gain access to things and documents in Megabankʼs possession and allowed them to be seized as part of the investigation into the money laundering case.