On February 7, 2023, the National Bank of Ukraine (NBU) classified Forward Bank as insolvent.
This was reported in the press service of the NBU.
The National Bank emphasized that declaring a bank insolvent in no way affects the stability of the banking sector of Ukraine. The share of Forward bank was 0.1% of the assets of solvent banks.
Each depositor of Forward will receive from the Individual Deposit Guarantee Fund compensation in the full amount of the deposit, including interest accrued as of the end of the day preceding the day of the start of the procedure for withdrawing the bank from the market, except for the cases provided for in Part 4 of Article 26 of the law "On the system of guaranteeing deposits of individuals". The total amount of payments to depositors as of January 21, 2023 — 1 535.6 million hryvnias.
- The ultimate beneficial owner of Forward Bank is Russian citizen Rustam Tariko. The National Security and Defense Council of Ukraine imposed personal sanctions on Tariko in October.