"Zlatobank": reviews. "Zlatobank" closes?

“Zlatobank”, good shade which they find problematic in connection with its bankruptcy, began its history in 2008. He specialized in providing financial services to individuals and legal entities. In the heyday of his activities of a financial institution was a member of the Association of Ukrainian banks, acted as a contributing member of the system S. W. I. F. T. In accordance with the amount of regulatory capital and assets, the establishment belonged to the second group of banks.

Shareholders and last statements

Shareholders of financial institutions “Zlatobank”, which reviews are filled with outrage at the inability of the latter to meet their financial obligations, are OOO "Avangard-Ekspo" (97,94% of shares) and OOO «Agrobetastim" (2.6% of shares).

The Bank's Financial performance for the first quarter of 2015 clearly show that the financial institution did not just have liquidity problems, it is completely insolvent. The Bank's net profit for the last reporting period amounted to -2 484 474 USD. Equity institutions meet -1 973 642 UAH. the amount of assets was equal to 5 877 985 UAH. Here you can mention the amount of debt that today is equal to 7 851 628 UAH.

First complaints

Some initial feedback on “Zlatobank” in a negative way began to appear toward the middle of the autumn of 2014. Massively showered with messages that the Bank violates the terms of the Deposit agreements. Initially there were reports about the delay in payment and refusal to return the dollar deposits.

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A Little later spread information from investors that the Bank stopped issuing of funds. Unhappy people couldn't withdraw their money, the Bank staff and approximately could not tell about what is happening within the financial institution. On “Zlatobank» reviews indignantly customers fell like an avalanche. People talking about stopping the maintenance of accounts of failures in the transfer of funds and lengthy delays in the payment of salaries and pensions.

The Interim administration attempts to correct the situation

After much dissatisfaction from the population, the NBU February 14, appoints a temporary administration. The position of the head is assigned to a leading specialist in the resolution of Bank insolvency DGF Valery Slavinsky. Temporary administration functioned in the period from 14 February to 13 may 2015.

Official decision on what financial institution “Zlatobank”, which reviews the periods of absence of liquidity problems were only good, is insolvent, was rendered by the NBU resolution No. 105 of 13 February. By the time of introduction of temporary administration the assets of the companies was equal to 7,8 billion UAH, which provided a 28 position among banks in the country.

What was the precondition for the introduction of temporary administration?

On the establishment of “Zlatobank” feedback from staff and customers has always been positive. Formally, the reason for the introduction of temporary administration are not only resentment on the part of defrauded customers, but also the risk for investors of operations that was carried out on February 12 despite strict ban by the regulator. The beginning of difficulties and the first failures were recorded at the beginning of August. Despite the fact that in that period of complaints from customers has been very rare that liquidity problems had already taken place. This led to the decision of the NBU on August 19 to enter the structure financial institution sponsor.

Recognition Bank problem

The First assumption that “Zlatobank” closed, began to appear in early December. This is due to the fact that despite the introduction of the curator, the financial situation in the institution continued to deteriorate. 4 Dec 2014 a financial institution has received the official status of problem, and in this period all the clients of the organization have experienced difficulties in on itself.

The Regulator made the demand to the shareholders for recovery of the asset, but the measures taken by the financial institution did not include actions to improve the situation. Moreover, even the plan that was presented to the financial institution for the recovery of the past, and has not been implemented. Despite the current situation, the pension Fund of Ukraine for January 30 was officially announced, extending the contract with the financial company before 1 April.

Closed for insolvency

13 February 2015 from the Fund of guaranteed deposits has been no official statement that “Zlatobank” closed. In accordance with the data provided by the office at the close in the financial Institute was decorated of the order of 115 thousand deposits, total volume of which amounted to 4,2 billion UAH. Under the guarantee the obligations of the state were about 97.4% of depositors.

In the face of the owners of the Bank were made by Elena and Olga Yakimenko (mother and daughter). Some unofficial sources attributed to Leonid Yurushev relationship with the Bank, as evidenced by the events that took place on the eve ofopen “Zlatobank”. At the time sells Yurushev the Bank «Forum» the Germans, in which the post of the top Manager is Elena. Due to the fact that “Zlatobank” liquidity problems and could not solve, he officially became the sixth Bank in Ukraine in 2015, which had been closed for insolvency.

What attempts were made to keep the institution afloat?

The Fund of guaranteed deposits before March 2, I received documentation from potential investors, which could confirm their qualifications. The Fund was actively seeking people who could bring financial institution out of the market in one of three ways:

• Partial or comprehensive alienation of assets with liabilities of the Bank in the direction of the receiving financial institution.
• Generating and selling to a third party the transition of the Bank in conjunction with all the assets and liabilities.
• Complete the sale of the Bank.

Due To the fact that the process was not successful until March 2, the procedure was formally extended to the 13th. In accordance with the DGF estimates, the amount of possible compensation is equal to 925,47 million hryvnia. The volume of funds on February 14 not only on deposits but also on simple accounts totaled 3,622 billion.

What obligations the Bank resigned?

Mass panic among the clients started when rained on “Zlatobank» comments from dissatisfied customers. Deposits do not give, do not answer the questions, in the future, the action plan does not devote of service – this is not all that could be found in the comments. An avalanche of resentment can be explained by the first of January 2015, before the time of the second devaluation of the hryvnia, the volume of deposits was equal to 3.2 billion hryvnia. More than 81% of deposits at that time were issued in foreign currency. As mentioned above, the number of contributors has reached 115 thousand, but not everyone could expect to pay. Only 112 thousand clients, the volume of deposits not exceeding UAH 200 thousand, can expect compensation.

The structure of the non-refundable deposits entered the banking metal deposits, the total amount of which was $ 600 million. According to the NBU rate it is not less than the 591 kilograms of the precious metal. A financial institution was taken at 3% per annum of metal deposits from 50 grams, which according to legislation are not subject to the system of state insurance. If you believe what was said about the establishment of “Zlatobank» reviews, deposits in this category were the most attractive on the Ukrainian financial market.

The Revocation of the banking license and liquidation

The Establishment of “Zlatobank’ financial problems is very serious. This can be judged by the NBU № 310 from 12 may to revoke the license of the financial institution. Moreover, a decision was taken to start the process of liquidation.

The Author of the resolution became the Directorate of the Fund of guaranteed deposits and the position of the liquidator was entrusted to Valeriy Slavinski, who will hold the post for one year, to may 1, 2016. Indirect control over a financial institution still belongs to Elena Yakimenko.

The Beginning of compensation payments to affected depositors

After the huge number of claims that “Zlatobank” does not issue deposits, its investors can finally relax. May 20, 2015 began payments to customers through the branch «Sberbank». On the official website of the Fund of guaranteed deposits available information about that payment would be made before July 1, 2015. If the depositors of the Bank for any reason will not appeal to one of the agent banks of the Fund in the period up to 1 July, payments will be held following consideration of the individual written applications to the DGF to address until the record on liquidation of the financial institution will not be officially entered in the Unified register of legal entities on the state level.

From may 20, held the compensation payments to depositors through the financial company «Standard», but only under treaties, the validity of which is up to 29 April 2015. Continue payments to cardholders and account holders in the Bank. Funds can be obtained, and through the branches of the “Bank”. Turning to one of the branches of the Fund's partners, you should have a passport and a document confirming the assignment of registration number of the payer of taxes. Payments now being implemented successfully taking into account all of the interest up to the date of the NBU decision on the recognition of financial institutions insolvent. Compensation is not available to depositors (about 3 million clients), the amount of the Deposit which exceeds 200 thousand UAH.