Megabank is being liquidated in Ukraine.

The National Bank has decided to revoke the banking license and liquidate Megabank, the NBU press service reported. The National Bank classified Megabank as insolvent on June 2, 2022. The reason was significant violations in their credit risk assessment, insider lending, and non-fulfillment of the recapitalization plan. On June 7, the Deposit Guarantee Fund of Individuals began accepting applications from potential investors to participate in an open tender to withdraw Megabank from the market. By the way, this is the first bank whose depositors are subject to the rule of full reimbursement of funds during martial law.