Interfax-Ukraine

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NBU declares Megabank insolvent - bank's major shareholder.

The National Bank of Ukraine (NBU) declared Megabank (Kharkiv) insolvent, Viktor Subotin, the majority bank shareholder (70.56% of the shares), said on Friday.

"On June 2, the National Bank declared Megabank insolvent. This is the first time a bank was classified as insolvent during the war," the bank's press service quoted Subotin as saying.

At the same time, Subotin called on the parliamentarians of Ukraine to assess the actions of the National Bank in general and, in particular, the decision to recognize Megabank as insolvent.

According to the National Bank of Ukraine, as of May 20, 2021, its main shareholders were Viktor Subotin - 70.56% (direct and indirect participation), the European Bank for Reconstruction and Development (EBRD) - 11.3%, German Development Bank KfW - 11.3%, Olena Subotina - 8.2% and the International Finance Corporation (IFC) - 4.5%.

According to the NBU, as of March 1, 2022, Megabank ranked 24th in terms of assets (UAH 11.193 billion) among 69 banks operating in the country.

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