Concord Bank finally liquidated: Guarantee Fund completes procedure
12 March 14:09
The Deposit Guarantee Fund has suspended payments to depositors of Concord Bank
On March 9, 2026, the Executive Board of the Deposit Guarantee Fund approved the liquidation balance sheet and report on the liquidation procedure of Concord Joint-Stock Commercial Bank.
This was reported by the Deposit Guarantee Fund, according to "Komersant Ukrainian".
Cessation of payments to depositors
The Guarantee Fund will stop paying guaranteed compensation amounts on deposits on the day the bank’s liquidation balance sheet is approved.
Also, from the moment of approval of the liquidation balance sheet, the bank’s liquidation procedure is considered complete.
In this regard, the Guarantee Fund announced the termination of guaranteed compensation payments to depositors of JSC “AKB “Concord” on March 9, 2026, and the completion of the bank’s liquidation procedure.
Amount of payments to depositors
Within the limits of guaranteed compensation payments, Concord Bank depositors received UAH 631.2 million.
Creditors’ claims against the bank that were not satisfied as a result of the liquidation procedure and the sale of the bank’s property (assets) as of the date of the liquidation balance sheet are considered extinguished.
In connection with the approval of the liquidation balance sheet and the report on the implementation of the liquidation procedure, the Guarantee Fund closed the Concord Bank’s accumulation account.
The Fund also reported that the details of this account are no longer valid and payments to it are not accepted.
As a reminder, the National Bank’s board decided to revoke the banking license of JSC “AKB “Concord” and liquidate it from August 1, 2023, due to systematic violations of the requirements of the legislation in the field of preventing and combating the legalization (laundering) of proceeds from crime, financing of terrorism, and financing of the proliferation of weapons of mass destruction, but this decision was challenged in court.
The financial institution accounted for 0.17% of the assets of solvent banks, so its withdrawal from the market does not affect the stability of the banking sector in Ukraine. The National Bank then reported that
- the financial institution did not ensure the functioning of an adequate risk management system;
- it did not provide the inspection team with reliable information necessary for supervision;
- it did not properly fulfill its obligation to develop and implement internal documents in the field of financial monitoring.
On July 30, 2025, the Supreme Court considered the cassation appeals of the National Bank, the Deposit Guarantee Fund for Individuals, and the Joint Stock Company “Joint Stock Commercial Bank “Concord.” The court overturned the decisions of the lower courts, which had ruled that the National Bank’s decision to revoke the banking license and liquidate JSC “Joint-Stock Commercial Bank “Concord” was unlawful and invalid.
