Oleksandr Yanukovych considers the NBU's decision to declare VBR insolvent to be premature and unfounded.

by Editor • 01.12.2014 • 0 Comments

Alexander Yanukovych

Alexander Yanukovych

He assured that all legal actions will be taken to protect clients who have entrusted their money to the bank and the thousand-strong staff of PJSC VBR.

There are no economic grounds for declaring PJSC VBR insolvent. This was stated in a statement by PJSC VBR shareholder Oleksandr Yanukovych, published on his press secretary's Facebook page.

"I would like to officially state that there are no economic grounds for declaring PJSC VBR insolvent. The bank complies with all economic standards and requirements of banking legislation. Moreover, PJSC VBR is one of the few Ukrainian banks to have successfully passed the NBU stress test," noted Oleksandr Yanukovych.

He also added that the question of the legality of the introduction of sanctions is being contested by him “in the EU Court of Justice, and a decision has not yet been made.”

"In this regard, I consider this NBU decision premature and unfounded. We will take all legal steps to protect the clients who have entrusted their money to the bank and the thousands of employees of PJSC VBR," the bank's shareholder assured.

As a reminder, the National Bank of Ukraine, by its November 27 resolution, declared PJSC VBR, whose shareholder is Oleksandr Yanukovych, insolvent. The regulator cited the Council of the European Union's imposition of sanctions against the bank's owner and the "non-compliance of PJSC VBR's activities with banking legislation" as justification for this action.
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