Creation of Yute Bank
The Deposit Guarantee Fund for individuals has created a transitional Yute Bank to service the depositors of the insolvent RVS Bank. This decision became necessary after the National Bank decided to classify RVS Bank as insolvent due to failure to meet the regulator's requirements.
Yute Bank received a banking license to carry out banking activities and is the successor of RVS Bank for the transferred liabilities. Depositors of RVS Bank have the option to remain clients of Yute Bank or to withdraw their funds. Overall, the possible payout amount from the Fund is 456 million UAH, which is expected to ease the situation for depositors during this difficult period.
Owners of RVS Bank
As of January 1, 2025, the key owner of RVS Bank is Oleksandr Stetsiuk, who holds 99% of the shares. The remaining 1% of the shares belongs to Ruslan Demchak's daughter, Kateryna. These changes in the management of banking assets highlight new challenges for depositors and the importance of proper financial management amid financial instability.
The creation of the transitional Yute Bank is an important step in ensuring the rights of RVS Bank depositors who find themselves in a difficult financial situation. - Source: Deposit Guarantee Fund for Individuals
The Deposit Guarantee Fund for individuals is trying to minimize possible losses for depositors by offering them an alternative in the form of a new bank or the return of funds. This decision also underscores the necessity of adhering to banking norms and requirements, which are critically important for the stability of the financial system in Ukraine.