KIEV, Oct. 7 – The National Bank of Ukraine has decided to remove Union Standard Bank from the market due to fraudulent transactions made by the bank, director of the bank supervision department of the NBU Kateryna Rozhkova said.

"We're always open to dialog with banks. If Union Standard Bank had financial problems, we would draw up the financial readjustment program. [If there was a] non-transparent ownership structure? We [would have] had a dialog to bring it in line with the law. However, we would not close our eyes to fraud. The bank was removed from the market. Law-enforcement agencies will study its transactions," she wrote in Ukrainska Pravda.