On April 3, 2026, an agreement was signed to transfer a portion of the assets and liabilities of the insolvent JSC “MOTOR-Bank” to the acquiring bank, JSC “ASVIO BANK.”
The transfer of assets and liabilities resulted from an open tender conducted by the Deposit Guarantee Fund for Individuals to attract an investor/receiving bank to remove the insolvent JSC “MOTOR-BANK” from the market. In total, nine parties expressed interest in participating in the tender, and two submitted bids, from which the Fund selected the least costly option, in accordance with the Law on the Deposit Guarantee System for Individuals. JSC “ASVIO BANK” was declared the winner of the tender, whose bid provided for the transfer to it of a portion of the insolvent bank’s assets and liabilities.
Under the terms of the agreement, ASVIO BANK JSC has assumed all rights and obligations of the debtor with respect to deposits held by individuals (including sole proprietors) of JSC “MOTOR-BANK” (excluding amounts of guaranteed compensation already received from the Deposit Guarantee Fund) and the bank’s obligations to all creditors up to and including the 7th priority class, that is, in effect, all individual and corporate clients not affiliated with the bank, for a total amount of UAH 89.3 million. Assets in the same amount are also transferred to the receiving bank. The agreement with the receiving bank provides for the preservation of all contract terms—type of deposit, currency, interest rate, maturity, etc. That is, individuals and legal entities whose funds and obligations have been transferred to ASVIO BANK JSC have become clients of this bank.
“Thanks to our efforts aimed at market engagement, we are increasingly applying methods for resolving insolvent banks that allow for the transfer of customers to an operating bank, rather than liquidating the insolvent bank entirely. Over the past two years, we have fully or partially transferred all banks that were placed under the Fund’s management to investors and acquiring banks.
In this regard, we have managed to establish another positive trend: declaring a bank insolvent no longer causes any panic among customers. An increasing number of depositors are not rushing to withdraw their funds from a failed bank but are instead becoming customers of other banks. “This is radically different from the situation observed just a few years ago and is the result of the systematic work of the Fund, the regulator, and all participants in the banking system,” emphasized Olga Bilay, Executive Director of the Deposit Guarantee Fund for Individuals.
“A strong business is built not on the quantity of assets, but on the quality of decisions made. I share a disciplined approach to finance and investments, which is why we select only those opportunities that have strategic potential. That is why our strategy is to selectively strengthen ASVIO’s position through investments in assets that have real growth potential and reinforce our model of a modern technology-driven bank. We are very selective in making such decisions and invest only where we see synergy and can create additional value for ourselves and our clients. The integration of Motor Bank’s assets is another strategic step toward achieving our goals,” shared Yevhen Shulika, Chairman of the Board of ASVIO BANK JSC.
The Fund has already submitted a request to the National Bank of Ukraine to revoke the license in accordance with the resolution plan. Following this, liquidation proceedings will commence, during which the bank’s obligations to creditors not transferred to the acquiring JSC “ASVIO BANK” will be fulfilled in the general order of priority provided for in Article 52 of the Law of Ukraine
“On the Deposit Guarantee System for Individuals.” Such creditors will need to file their claims against JSC “MOTOR-BANK” following the standard procedure after the relevant announcement is published on the Fund’s official website and on the “MOTOR-BANK” website.
For reference. As of February 20, 2026, temporary administration was introduced at JSC “MOTOR-BANK” pursuant to Decision No. 48-rsh/BT of the NBU Board dated February 19, 2026, “On Classifying JSC “MOTOR-BANK” to the category of insolvent entities” and the decision of the Executive Board of the Deposit Guarantee Fund for Individuals dated February 19, 2026, No. 150 “On the introduction of temporary administration at JSC “MOTOR-BANK” and the delegation of powers to the bank’s temporary administrator.”
The total guaranteed amount of compensation for depositors of JSC “MOTOR-BANK” is 46.9 million UAH. Since the start of the temporary administration, 5.8 million UAH has been paid out to depositors from the funds of the Deposit Guarantee Fund for Individuals. As a reminder, in accordance with the Law of Ukraine “On the Deposit Guarantee System for Individuals” and the Law of Ukraine “On Amendments to Certain Laws of Ukraine Regarding Ensuring the Stability of the Deposit Guarantee System for Individuals,” JSC “MOTOR-BANK” is covered by 100% deposit guarantees, including interest accrued as of the end of the day on December 19, 2025.
