Clients of the Ukrainian bank began to return deposits: it will be liquidated

Clients of "Cominvestbank" have started to receive their deposits back in connection with the bank's liquidation procedure. Payments are made through agent banks of the Deposit Guarantee Fund (DGF) connected to the DGF's Automated Payment System. Depositors can receive compensation directly at a branch of one of these banks or remotely.

This was reported by the Fund itself. They noted that deposits in foreign currency are reimbursed in hryvnia at the NBU exchange rate as of the end of December 5, 2024. For example, 1 dollar then cost UAH 41.6628.

It is emphasized that deposits are returned under agreements that expire before December 5, 2024, inclusive. As well as under bank account agreements (current accounts).

"Funds to the depositors of JSC "Cominvestbank" under these agreements are reimbursed in the full amount of the deposit. Including interest accrued as of the end of the day on December 05, 2024," the statement said.

In which banks you can get money

According to the DGF, payments to depositors are made through the Fund's agent banks connected to its Automated Payment System. The full list of such banks is available here.

Depositors can receive compensation directly at a branch of one of the agent banks. Or remotely in 6 banks:

• PrivatBank;
• Ukrgasbank;
• "Pivdennyi";
• FUIB;
• Tascombank;
• Sens Bank.

"Payments are also made through the Diia Portal mobile application, and are carried out by 5 agent banks of the Fund: PrivatBank, Ukrgasbank, FUIB, Universalbank, IdeaBank," the DGF said.

How to get your deposit

To receive funds directly at a branch of any of the agent banks, depositors must contact the bank with a passport or other identity document. Resident individuals must additionally present a document certifying their registration in the State Register of Individual Taxpayers.

However, there is an exception. It applies to persons whose passports have been stamped by the supervisory authority with a note on the right to make any payments by series (if any) and passport number. Or if:

• the passport contains data on the registration number of the taxpayer's account card (RNOKPP);
• The State Migration Service has entered the data of the taxpayer registration number, or a record of refusal to accept the taxpayer registration number in an electronic contactless medium, or the word "refusal" is affixed to the passport.

In addition, in some cases, you need to have additional documents with you. In particular, when:

• reimbursement is made on the basis of a power of attorney;
• reimbursement is made to parents (adoptive parents) or guardians of a minor (child under 14 years of age), guardians (trustees) of a person recognized as incapacitated;
• funds are received on the basis of a certificate of inheritance.

Why "Cominvestbank" is being liquidated

Earlier, the NBU recognized "Cominvestbank" as insolvent. The reason was the bank's failure to bring its operations in line with the requirements of the law, in particular the regulations of the National Bank of Ukraine.

According to the National Bank, in August 2014, the regulator's board classified "Cominvestbank" as a problem bank. The reason for this decision was the bank's "risky activities that threaten the interests of depositors or other creditors."

This was revealed by a number of signs, including:

• improper organization of the internal control system, including the risk management system;
• insufficient income.

This, it is noted, created a risk of reducing the bank's regulatory capital:

• violation of prudential capital ratios established by the NBU;
• systematic submission and disclosure of false information and reports to conceal the bank's real financial condition.

Later, the procedure for removing "Cominvestbank" from the market was launched. For this purpose, a temporary administration was introduced in the institution.

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