Bank forum

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Logo of the Bank Forum JSE

The Bank Forum JSC ( Joint Stock Commercial ) is a bank in Ukraine , based in Kiev .

The "Bank Forum" was founded in 1994 by the oligarch Leonid Yurushev , who also held 84.5 percent of the capital. In mid-2007 it had around 9,500 medium-sized and 2,500 other corporate customers. Around 230,000 private customers are looked after in the 230 branches. The bank currently has around 4,400 employees. With total assets of around 1.4 billion euros and a market share of 2.3 percent, it was in 10th position among Ukrainian banks in mid-2007.

In mid-September 2007 Commerzbank AG took over a 60 percent stake plus one share in Yurushev. The result was a purchase price of 600 million dollars (approx. 435 million euros at the time). On March 4, 2010, it increased this stake to 89.3 percent by completely taking over Yurushev's remaining stake. After Commerzbank had in the meantime increased its stake to 96.06 percent, it announced on July 30, 2012 that it would sell its stake to Smart Holding , a Ukrainian investment company. The sale was completed with a loss of around 200 million euros.

On March 14, 2014, the National Bank of Ukraine declared Bank Forum insolvent and placed it under receivership. The administration was limited to 3 months. Since April 13, 2014, the Ukrainian Deposit Protection Fund has been paying out balances from current accounts, card accounts and investments with a due date by March 23 in local currency up to 200,000 UAH to natural persons.

In a statement from March 16, 2014, the chairman of the supervisory board, Alexander Morosow, saw the former owner as the culprit for the insolvency. “Commerzbank began hiding the real situation in the bank since 2012. We are conducting legal proceedings in which Commerzbank is the defendant, ”said Morosow, according to Interfax. The real volume of problem loans has been glossed over and the necessary reserves have not been built up accordingly. This has been hidden from both the supervisory authority and the current shareholders of the bank.

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  1. ↑ Archive link ( Memento of the original dated November 7, 2007 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.  @1@ 2Template: Webachiv / IABot / www.nrcu.gov.ua
  2. ↑ http://www.handelsblatt.com/unternehmen/banken-versicherungen/commerzbank-uebernehmen-ukrainische-bank;1324461
  3. ↑ http://www.handelsblatt.com/unternehmen/banken-versicherungen/ukraine-commerzbank-uebernnahm-kommando-bei-bank-forum;2540727
  4. ^ Sale of Bank Forum by Commerzbank. Retrieved July 30, 2012 .
  5. ↑ Commerzbank completes sale of Bank Forum to the Ukrainian Smart Group. Retrieved October 30, 2012 .
  6. ↑ "Chairman of the Supervisory Board: The problems of Bank Forum are related to the former owner". Retrieved June 11, 2014 .

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