Criminal case opened over attempt to bring PromInvestBank to bankruptcy

The Ukrainian Prosecutor General's Office (PGO) has opened a criminal case over an attempt to bring PromInvestBank to bankruptcy, according to the press service of the PGO.

As UKRINFORM reported, on August 12, Moody's confirmed, with a positive outlook, the B2 long-term foreign-currency deposit ratings of 22 Ukrainian banks, including PromInvestBank. This happened despite reports in the Ukrainian media that the active purchase of the bank's shares in favor of a certain strategic investor started in April.

The situation around PromInvestBank is being currently described as a raider attack.

The Security Service of Ukraine has launched checks at the bank's request.

On October 10, Moody's Investors Service downgraded the bank financial strength rating (BFSR) of PromInvestBank to E from E+, its long-term local currency and foreign currency bank deposit ratings to Caa2 from Ba2 and B2, respectively, and its National Scale Rating (NSR) to B3.ua from Aa1.ua. Long-term deposit ratings have been placed on review with direction uncertain.

According to Moody's, the rating action is in response to the announcement that the National Bank of Ukraine (NBU) has taken control of PromInvestBank.

Head of the Council of the National Bank of Ukraine Petro Poroshenko said that a "criminal information attack" had been launched against PromInvestBank for several weeks in a row. He said that the bank's depositors tried to withdraw UAH 5 billion (around USD 1 billion) from their accounts over a week. In connection with the situation around the bank, the NBU said that it would allocate UAH 5 billion to PromInvestBank to refinance liquidity, but had given only UAH 2 billion and suspended the financing of the bank.

The NBU also declared a six-month moratorium on satisfying the demands of the bank's creditors.

UKRINFORM