KIEV, Sept. 16 – The National Bank of Ukraine, under a proposal of the Individuals' Deposit Guarantee Fund, has decided to revoke the license of Ukrgazprombank (Kiev) and liquidate it, the regulator said on its website on Tuesday.

The decision is stipulated in NBU resolution No. 602 of September 14.

The central bank said that the bank has been on the list of insolvent banks since April 7, 2015, due to risky operations, and on August 5, 2015 the NBU agreed to the acquisition of a large stake in the bank by Primestar Energy FZE (United Arab Emirates).