The NBU declared Motor Bank insolvent: what happened and what will happen to customers
20 February 12:41
The National Bank of Ukraine has declared Motor Bank insolvent due to its unprofitable operations and violations of capital requirements. The decision was made on February 19, 2026, after the financial institution failed to comply with the regulator’s requirements for financial recovery. This was reported by the press service of the National Bank of Ukraine, according to "Komersant Ukrainian".
Why did the NBU declare Motor Bank insolvent?
The main reason for the decision was the bank’s inability to meet the regulator’s requirements for restoring financial stability.
The National Bank noted that Motor Bank:
- did not submit a revised financial recovery plan;
- continued to operate at a loss;
- violated the minimum regulatory capital requirements.
At the time of the decision, the bank’s regulatory capital was UAH 173 million, while the minimum acceptable level was UAH 200 million.
Back in December 2025, the NBU recognized Motor Bank as problematic and gave it time to rectify the situation, but the institution’s financial condition did not improve.
How dangerous is this for the banking system?
The National Bank emphasized that the decision does not pose a threat to Ukraine’s financial stability.
Motor Bank is not systemically important, and its share was only 0.01% of the banking sector’s assets as of February 1, 2026.
This means that the bank’s withdrawal from the market will not affect the operations of other banks or the stability of the financial system.
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Who owned the bank and how it became state-owned
Motor Bank previously belonged to the former president of Motor Sich, Vyacheslav Boguslaev.
However, after the NSDC imposed sanctions, the asset was confiscated.
Chronology of events:
- October 2022 — the Security Service of Ukraine detained Boguslaev;
- November 2022 — The National Bank of Ukraine deprived him of his voting rights in the bank;
- July 2024 — the bank was transferred to state ownership through the State Property Fund;
- The High Anti-Corruption Court finally seized the shares in favor of the state.
The basis for this was sanctions against Boguslaev on suspicion of cooperation with Russia and illegal supplies of aircraft engines.
The bank’s financial condition before it was declared insolvent
Motor Bank’s financial indicators showed a deterioration in the situation:
- loss in 2025 — UAH 16.3 million;
- net assets — UAH 379.2 million;
- insufficient capital.
This was a key factor in the regulator’s decision.
What will happen to depositors and customers
After the bank is declared insolvent, temporary administration by the Deposit Guarantee Fund will be introduced.
This means that
- depositors will receive compensation;
- the guaranteed amount of compensation is up to UAH 600,000 per depositor;
- payments will be made through designated agent banks.
In most cases, depositors will receive their funds without loss within the guaranteed amount.
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