You're reading: Deposit Guarantee Fund replaces temporary administrator at VAB Bank

The Individuals' Deposit Guarantee Fund of Ukraine in three days after appointing Yuriy Dzhus temporary administrator to VAB Bank (Kyiv) has replaced him by Maryna Slavkina.

“Powers of the authorized person of the fund to administrate the bank were transferred for family reasons,” reads a report of the fund issued late on Monday, Nov. 24.

As reported, earlier Dzhus among others, headed the board of Express-Bank, while Slavkina was an authorized person to liquidate Arma Bank and Pivdencombank.

Iryna Ostapenko has been appointed liquidator of Pivdencombank as Slavkina was appointed to VAB Bank.

Temporary administration was introduced at VAB Bank from Nov. 21, 2014 to Feb. 20, 2015. As of Nov. 1, 2014 the total amount of deposits of 347,300 individuals at VAB Bank stood at Hr 9.7 billion, Hr 6.9 billion of which is funds within the guaranteed sum of compensation. Thus, Hr 3.7 billion is to be repaid to the depositors of VAB Bank during the term of temporary administration.

VAB Bank has been operating on the financial market of Ukraine since 1992. Oleh Bakhmatiuk owns an 86.778 percent stake in the bank.