The Belarusian Delta Bank's banking license was revoked as of March 18. This announcement was distributed by the press service of the National Bank of the Republic of Belarus.
This decision was made following the work of the temporary administration appointed at Delta Bank the day before. The decision to revoke the bank's license was made due to the financial institution's failure to comply with certain licensing requirements, as well as the creation of a financial situation that resulted in the bank's failure to fulfill its obligations to depositors and creditors.
As a reminder, the National Bank of the Republic of Belarus placed Delta Bank under temporary administration on March 12, 2015. The financial institution's main shareholder is Ukrainian banker Nikolai Lagun.
Lagun is currently the largest Ukrainian investor in the Belarusian economy. In 2007, Lagun acquired 100% of the shares of the small Atom Bank and used it to establish the Belarusian Delta Bank. As of the third quarter of 2014, the Belarusian Delta Bank ranked 16th by capital (0,70% share of the banking system), 12th by assets (0,81%), 18th by profit (0,54%), and 12th by loan portfolio size (0,69%). Nikolai Lagun also owns several insurance assets in Belarus – Delta Insurance and Pension Guarantees.
It was previously reported that Nikolai Lagun, in an attempt to save his Delta Bank, was attempting to sell Belarusian assets. Lagun needed the funds to recapitalize the bank and maintain control over it. However, he failed to do so, and the National Bank of Ukraine declared Delta Bank of Ukraine insolvent.
Subscribe to our channels in Telegram, Facebook, Twitter, VC — Only new faces from the section CRYPT!