Uzbekistan: UAE company to buy securities of second largest bank

UAE-based investment company Frontera Capital will acquire securities of O’zsanoatqurilishbank. The delegation of O’zsanoatqurilishbank visited the United Arab Emirates, where the parties signed the agreement on development of cooperation. The document provides for raising $50 million using investment and credit instruments. The agreement also provides for the sale of securities of the Uzbek bank to…

Ukraine: NBU decides to liquidate VTB Bank

The National Bank of Ukraine on December 18 made a decision to terminate the banking license of Kyiv’s VTB Bank, a subsidiary of the eponymous Russian lender, the press service of the Individuals’ Deposit Guarantee Fund reported. “The Deposit Guarantee Fund made the corresponding decision based on the National Bank decision on December 18 on…

Ukraine: Deposit Guarantee Fund introduces temporary administration in VTB Bank

The Individuals’ Deposit Guaranteeing Fund has started the procedure of withdrawing PJSC VTB Bank from the market by introducing temporary administration for one month from November 28 to December 27. According to the fund’s website, Yulia Zabolotna has been appointed temporary administrator of the credit institution. The beginning and procedure of paying guaranteed amount to…

Ukraine: NBU revokes banking license of BM Bank

The National Bank of Ukraine (NBU) has revoked banking and general licenses for foreign exchange operations of JSC BM Bank, the central bank’s press service reports. “The National Bank of Ukraine by the Board’s decision dated November 6, 2017, No.749-rsh, revoked the banking and general licenses for foreign exchange operations from JSC BM Bank and…

Ukraine: Russian banks challenging asset freeze

Banks with Russian capital in Ukraine have filed cassation complaints against the Kyiv Court of Appeal ruling to freeze their assets. The Civil Cassation Court of the Supreme Court received respective complaints on September 14. As reported, businessman Ihor Kolomoisky achieved the freeze on the assets of three Russian state-owned banks in Ukraine in order…