The NBU has declared RBC Bank insolvent: what will happen to depositors and when will payments be made?
4 November 22:42
On November 4, the National Bank of Ukraine (NBU) classified RVS Bank JSC as insolvent. The regulator emphasizes that the share of the institution as of October 1, 2025 was only 0.04% of the assets of solvent banks, so this decision will not affect the stability of the banking sector, "Komersant Ukrainian" reports.
The financial regulator reminded that on July 29, 2025, RBC Bank was already included in the category of problem banks. Since then, the financial institution has not submitted a properly revised financial recovery plan, continued risky activities, and failed to comply with legal requirements, in particular with regard to prudential standards and capital adequacy.
In addition, in April 2025, the NBU announced that it would defend in court the fine imposed on the bank for violations in the field of financial monitoring.
Guarantees to bank depositors
The NBU and the Deposit Guarantee Fund (DGF) assure that each depositor of RVS Bank will receive a refund in the full amount of the deposit with accrued interest for the period of martial law and for another three months after its termination. The estimated amount of guaranteed payments according to the regulator is approximately UAH 456 million.
The legal framework of this guarantee is defined by the rules that provide 100% reimbursement of depositors’ funds during the martial law period; after this period, the maximum reimbursement amount will return to UAH 600 thousand.
Next steps for the DGF in relation to the troubled financial institution
After the NBU’s decision, the DGF will introduce procedures for removing the bank from the market: temporary administration, asset inventory and start paying the guaranteed amount through agent banks. The DGF traditionally publishes up-to-date information on the timing and procedure of payments on its official resources.
Scale and financial performance of the bank
According to the NBU, as of September 1, 2025, RVS Bank’s assets amounted to UAH 1.60 billion, liabilities – UAH 1.43 billion, equity – UAH 172.2 million, and the financial result was negative (-UAH 125.2 million). These figures confirm the small systemic scale of the institution.
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Context of ownership and history of the institution
RVS Bank is a Ukrainian financial institution with a complicated history of transformations, name changes, and ownership, which dates back to the early 1990s.
The first mention of the bank dates back to October 1991, when it operated under the name AKIB “Intellect”. Subsequently, several reorganizations and rebrandings took place: in different years, the bank operated as Kyiv-Privat, then as TAS-Investbank, and later as TAS-Commerzbank. These changes reflected the typical dynamics of the Ukrainian banking sector in the 1990s – mergers, consolidations and changes of ownership in search of stability.
The bank was registered in the current format on June 22, 2015 under the name of Joint Stock Company “RVS Bank” (USREOU code 39849797). The legal address is in Kyiv. The Bank received a banking license No. 277 dated November 24, 2016, which allowed it to conduct a full range of banking operations, including deposit taking, lending, cash and settlement services and foreign exchange transactions.
At the time of its active operation, the authorized capital of the institution amounted to about UAH 300 million, and RVS Bank was a member of the Deposit Guarantee Fund, which guaranteed a basic level of protection to its customers.
The main shareholder of RVS Bank in 2019-2025 was Oleksandr Stetsiuk, who owned more than 99% of the shares. A small share (1%) was owned by Kateryna Demchak, daughter of former MP and banker Ruslan Demchak, who had previously chaired the bank’s supervisory board.
The media have repeatedly noted that the change of ownership was due to the purchase of shares from previous shareholders, including groups associated with Demchak’s business. In public sources, the bank was positioned as a universal commercial bank focused on retail and small business.
RVS Bank remained a small player in the market. As of September 2025, its assets amounted to approximately UAH 1.6 billion, liabilities – UAH 1.43 billion, equity – UAH 172 million, and its financial result was negative (-UAH 125 million). The bank’s share in the NBU system was only 0.04% of the assets of solvent banks, meaning it was not of systemic importance.
RVS Bank has also been repeatedly mentioned in journalists’ investigations as a structure associated with the interests of the Luzhnikovsky business group, which, according to media reports, was behind the raider seizure of the Lybid hotel in Kyiv. These allegations were not officially confirmed, but became part of the public context around the bank.
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What does the NBU’s decision on RVS Bank mean for the Ukrainian financial market?
Due to the insignificant share of RBC Bank’s assets, there are no risks for the system. The main thing for clients is to follow the DGF procedures: identification, submission of an application in accordance with the established procedure, and receipt of funds from the agent bank. Given the current wartime regulations, retail deposits are reimbursed in full, which continues to support the confidence of depositors in the banking system.
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