The deposit guarantee fund of Ukraine has started the liquidation of the bankrupt bank Zemelny Capital, which was previously declared insolvent. It will run from September 10, 2021 to September 9, 2024.
Serhiy Mikhno has been appointed liquidator of the bank for a term of three years. Creditors' claims will be accepted within 30 days from the date of publication in the newspaper "Voice of Ukraine".
Zemelny Capital is one of the smallest banks in the country. With assets of less than UAH 800 million, the bank ranks 65th out of 73.
On August 11, 2021, the Board of the National Bank decided to classify "Land Capital" as insolvent due to non-performance of its obligations to depositors and other creditors within the statutory or statutory period due to lack of funds.
According to the NBU, at the beginning of this year, 95% of the shares of Land Capital Bank belonged to a well-known businessman, banker and politician Viktor Topolov. At one time he was a People's Deputy and a "fuel" minister. He was the owner of "Index-Bank" (now - "Credit Agricole Bank"), which sold to the French group Credit Agricole. After this agreement, Victor Topolov became a co-founder of Astra Bank, which was later sold to the Greek Alpha Bank.
JSC CB "Zemelny Capital" was in second place among 10 unprofitable banks in the first half of 2021 - (-53 million UAH). It was founded in 1990. It provided services to individuals and legal entities. It was also a member of the Association of Ukrainian Banks, Ukrainian Credit and Banking Union, Ukrainian Interbank Currency Exchange, Western Union, Anelik.
From September 8, the Deposit Guarantee Fund of Individuals will start paying out funds to depositors of the insolvent bank "Land Capital".