November 4, National Bank of Ukraine took away RwS Bank has been classified as insolvent due to insufficient capital standards and the provision of false information regarding its actual financial condition.

The bank was founded in 2015 on the basis of the bankrupt Omega Bank. Control over the financial institution was acquired by the UBG group, which is linked to Ruslan Demchak, a former member of the Petro Poroshenko Bloc. As of January of this year, 99% of the shares belonged to Oleksandr Stetsyuk, and another 1% belonged to Demchak's daughter, Kateryna. RwS Bank held 0.04% of the entire banking system.

Last year, RwS Bank showed a profit and actively provided loans to businesses, but now it's showing hundreds of millions in losses. What went wrong and when will depositors get their money back – we investigated LIGA.net.

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The State Guarantee Fund for Bank DepositsRVS Bank