The National Bank of Ukraine is liquidating the 10th bank - Uzhhorod’s ComInvestBank

The National Bank of Ukraine is liquidating the 10th bank - Uzhhorod’s ComInvestBank

The bank is owned by a cognac factory.

The NBU has declared another Ukrainian bank insolvent under martial law conditions. This is the Commercial Investment Bank or Cominvestbank from Uzhhorod, which has six official co-owners and two major shareholders: 57.9% of the shares belong to Uzhhorod resident Volodymyr Hisem, and 42.1% to the Uzhhorod Cognac Factory.

Cominvestbank is a small bank: as of October 1, 2024, it ranked 52nd (out of 62 banks) in the National Bank’s rating with total assets of 1.4 billion UAH, authorized capital of 250 million UAH, and a net profit of 3.6 million UAH.

The official reason for declaring Cominvestbank insolvent was "the continuation of risky activities and systematic provision and disclosure of unreliable information and reporting to conceal its real financial condition." At the same time, the NBU noted that the owners and management facilitated the falsification of reports and did not take measures to stabilize the situation.

Thus, the process of withdrawing Cominvestbank from the market has now been initiated. First, insolvency, then withdrawal of the banking license, and the launch of the liquidation process, which will be handled by the Deposit Guarantee Fund for individuals. The bank has 16,000 depositors, with 432 million UAH in their accounts, which must be paid in full to clients under martial law conditions.

After the closure of Cominvestbank, the current number of banks in the Ukrainian system will decrease from 62 to 61 organizations. Since the beginning of the full-scale war, the number of closed banks will reach ten.