National Bank of Ukraine revoked licenses from subsidiary of Russian state bank VTB

Open source

The National Bank of Ukraine revoked the banking and currency licenses from BM Bank, a Ukrainian subsidiary of the Russian state bank VTB.

According to the NBU website, the financial institution was also excluded from the State Register of Banks.

The National Bank recalled that BM Bank has decided to terminate banking activities without liquidating a legal entity, on the voluntarily basis.

According to the NBU, BM Bank became the sixth financial institution that made this decision, after DiVi Bank, Financial partner, Apex Bank, Industrial and Financial Bank and Credit Optima Bank.

As The Journalist reported, the hryvnia devaluation will exceed UAH 32 per USD 1 by 2021.