The Antimonopoly Committee of Ukraine (AMCU) has approved the merger of Kyiv Bank's liabilities and assets with state-owned Ukrgasbank, UNIAN news agency reported.
As a reminder, on February 24, the NBU declared Bank Kyiv insolvent. Following this, the Deposit Guarantee Fund appointed a temporary administration until May 24, 2015, to conduct an inventory and assess the bank's assets and liabilities.
Bank Kyiv was founded in 1993, and by 2009, a temporary administration was already in place. In 2014, Bank Kyiv posted a net loss of UAH 747 million. Following a recapitalization, the Ministry of Finance of Ukraine became the owner of 99,93% of Bank Kyiv's shares. As of January 1, 2015, Bank Kyiv ranked 67th by assets, with UAH 1 billion 485 million among 163 operating banks in Ukraine.
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