Bankruptcy of Two Major Banks — Finbank and Investbank — Expected in Odesa

Bankruptcy of Two Major Banks — Finbank and Investbank — Expected in Odesa

Media reports have surfaced about the bankruptcy of two major banks owned by influential residents of Odesa.

Thus, they predict the imminent demise of Finbank, which is owned by a tandem of oligarchs: Borys Kaufman and Oleksandr Hranovskyi, known for looting the most “juicy” pieces of the city’s communal property (the airport, the Passage Hotel) and for their loyalty to the Yanukovych “family.”

The prospects of Investbank are also being questioned; it is owned by the "regional" politician with a 12-year tenure Leonid Klymov. This politician and businessman is known as a skilled builder. In addition to building the new Chornomorets stadium, he has become notorious for a large number of illegal constructions in central Odesa and for destroying an entire residential block on Kuibysheva Street, which came to be known by the derogatory name “the Klymov block.”

Note that there is no information at the Unified Information Resource Center that Finbank and Investbank are undergoing liquidation. However, the spread of rumors about their imminent closure could itself become a catalyst for serious problems at these institutions. A loss of confidence in a bank and a mass withdrawal of depositors’ funds can bury any financial institution.

Note that before the bankruptcy of Odesa’s Porto-Franko bank several months ago, similar rumors about its collapse were also circulating.

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