The Akhmetov Bank Suspends Operations in Crimea

The Akhmetov bank suspends operations in Crimea

The board of the First Ukrainian International Bank adopted a decision on a program to limit operational activity in Crimea.

This was reported by the bank’s press service.

As noted, the bank was forced to make this decision due to the presence of requirements from the Central Bank of the Russian Federation on the territory of the Autonomous Republic of Crimea regarding PJSC "PUMB", compliance with which contradicts the current legislation of Ukraine.

"Until 17 April 2014 all the bank’s branches and ATMs will operate as usual. After that date, PUMB cannot guarantee the availability of its branches and ATMs for reasons beyond the bank’s control," the statement said.

"We take responsibility for our business, clients, and employees. However, the formed legal collision makes the normal functioning of the bank in Crimea impossible. In addition, the foundation of our business — banking secrecy — is threatened. The First Ukrainian guarantees compliance with its obligations to clients," said PUMB Chairman of the Board Serhiy Chernenko.

"The First Ukrainian officially notifies its clients — legal entities and individuals — of the decision made, recommending they contact any of the Crimean branches by 17 April to close accounts and withdraw deposits," the press service reported.

It was also emphasized that if a client has not contacted the bank about terminating services by 17 April, they will be able to continue cooperation with the First Ukrainian on the same terms at any of the bank’s branches on mainland Ukraine.

As is known, PUMB, which is among the group of largest banks, is controlled by the SCM company of Rinat Akhmetov.

EP