The court confirmed the legality of the NBU’s decision on the insolvency of Bank Sich

The Sixth Administrative Court of Appeal confirmed the legality of the decision of the National Bank of Ukraine to classify JSC Bank Sich as insolvent. The court adopted the corresponding decision on September 16, 2026.

The appeal of the bank’s shareholders Valery Razdorozhny and Oleg Balanda was dismissed. They tried to appeal the decision of the Kyiv District Administrative Court of February 23, 2026, which had previously refused to cancel the NBU’s decision.

Why was Bank Sich declared insolvent

The National Bank adopted a decision to classify Bank Sich as insolvent back on August 9, 2022.

The reason was the bank’s failure to fulfill its obligations to the NBU under refinancing loans within the established period due to insufficient funds.

In October 2022, the shareholders went to court, demanding that the regulator’s decision be declared illegal and overturned. However, the court of first instance did not uphold the claim, and now the appellate court has upheld the decision.

As of January 1, 2022, Oleg Balanda owned 55.615% of Bank Sich’s shares, and Valeriy Razdorozhny owned 31.016%.