Business news from Ukraine

NATIONAL BANK OF UKRAINE DECIDES TO LIQUIDATE ONE MORE BANK

The National Bank of Ukraine (NBU) on September 9 made a decision to revoke the banking license and liquidate Bank Zemelny Capital (Dnipro) belonged to former Coal Industry Minister Viktor Topolov (94.4% of shares), the regulator has said on its website.
“At the suggestion of the Deposit Guarantee Fund, the NBU made decision No. 469-rsh dated September 9, 2021 to revoke the banking license and liquidate Bank Zemelny Capital,” the NBU said.
As reported, the NBU on August 11 classified Bank Zemelny Capital as insolvent due to the failure to meet its obligations to depositors and other creditors due to insufficient funds within the term established by the agreement or determined by the legislation of Ukraine.
Bank Zemelny Capital was founded in 1994. According to the NBU data as of January 1, 2021, the owner of the bank’s substantial participation is former Minister of the Coal Industry Viktor Topolov (94.4% of the shares).
According to the NBU, as of June 1, 2021, Bank Zemelny Capital ranked 63rd in terms of total assets (UAH 909.983 million) among 73 banks operating in the country.

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NATIONAL BANK OF UKRAINE TO LIQUIDATE MISTO BANK

The National Bank of Ukraine (NBU) on January 26 made a decision to revoke the banking license and liquidate Misto Bank (Odesa), according to the regulator’s website on Wednesday.
“The NBU, at the suggestion of the Deposit Guarantee Fund, made a decision dated January 26, 2021 No. 25-RSh to revoke the banking license and liquidate Misto Bank,” the message said.
As reported, on December 14, the NBU classified Misto Bank as insolvent due to a decrease in capital ratios by 50% or more from the minimum established level due to the loss of one of its main assets – a soybean processing plant in Kherson region, with a book value of over UAH 271 million, or almost 17% of all bank assets.
Misto Bank was founded in 1993. According to the NBU, as of January 1, 2020, the main shareholders of the financial institution were Fursin, who directly and indirectly owned 97.180668% of the bank’s shares, and Latvian citizen Igor Buimister with 1.811499%.
As of October 1, 2020, the bank ranked 53rd in terms of total assets (UAH 1.498 billion) among 74 banks operating in the country, the press service of the central bank said on Monday.

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ECONOMY MINISTER DENIES PLANS TO LIQUIDATE UKRPATENT

Minister of Economic Development, Trade and Agriculture of Ukraine Tymofiy Mylovanov has denied plans of the government to liquidate state-owned enterprise (SOE) Ukrainian Intellectual Property Institute (Ukrpatent), and the creation of the National Intellectual Property Authority is planned only on the basis of SOE.
“No one will close Ukrpatent. If something is created, it will only be based on Ukrpatent,” Mylovanov said during a meeting with the staff of the enterprise upon their appeal to the ministry.
In its appeal, the company pointed to abuses and violations by the Ministry of Economic Development and Trade, in particular, the director of the intellectual property department Valeriy Zhaldak and his deputy Bohdan Paduchak.
According to the document, in particular, in May 2018, ex-Minister of Economic Development Stepan Kubiv by his decree established the state-run organization National Intellectual Property Office, which duplicates the functions of Ukrpatent, which contradicts Ukrainian and international legislation in the field of intellectual property protection and bilateral international treaties, the company said in the appeal. The creation of such an organization requires an appropriate government decree, and not a ministerial decree, the team said.
In addition, Ukrpatent transferred over UAH 36 million for the maintenance of the National Office, the state company said.
The parliament has registered a package of bills (No. 2255, 2255-1 and 2259), which provide for the establishment of the National Intellectual Property Authority as a legal entity under the management of the Ministry of Economic Development, Trade and Agriculture. At the same time, bill No. 2255 provides for the creation of the National Intellectual Property Authority on the basis of Ukrpatent.

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