Depositors of JSC “JSCB “Concord” will stop paying guaranteed amounts. The fact is that the bank is undergoing a liquidation procedure – and now the Deposit Guarantee Fund for Individuals (DGF), as required by law, has already drawn up a liquidation balance sheet, as well as a report on the implementation of the bank’s liquidation procedure. At the same time, the bank’s depositors were given at least 30 days to receive money, starting from February 2.
This was reported by the Fund itself. Thus, the preliminary suspension of the issuance of deposits will take place on March 3.
“The Fund informs about the upcoming approval of the liquidation balance sheet of JSC “JSCB “Concord” and the beginning of the procedure for stopping payments of the guaranteed amount of compensation to depositors of JSC “JSCB “Concord”. Therefore, we urge depositors of JSC “JSCB “Concord” who have not yet received compensation for their deposit to contact the Fund’s agent banks for the guaranteed amount (a full list of such banks is posted at the link. – Ed.)”, the message says.
Why is Concord Bank being liquidated
The decision to revoke the license and liquidate Concord Bank was made by the National Bank in the summer of 2023. In addition, the bank was fined 400 thousand for violating the requirements.
The basis for the liquidation of the bank, the NBU explained, was the systematic violation of the requirements of the legislation in the field of preventing and countering the legalization of proceeds from crime, the financing of terrorism and the financing of the proliferation of weapons of mass destruction.
What will happen to the banking system of Ukraine after the liquidation of Concord Bank
However, the regulator noted that the revocation of the license and the liquidation of Concord Bank will not affect the banking sector of Ukraine. After all, it was emphasized that this institution was small – its share in the assets of all solvent banks was only 0.17%.
