Delta Bank Explained

Delta Bank
Logo Alt:DeltaBank logo
Type:Public Joint-Stock Company
Services:Financial services
Foundation:February 15, 2006
Location City:Kyiv
Location Country:Ukraine
Key People:Mykola Lagyn, Olena Popova
Industry:banking, investment
Assets: ₴55.298 billion (December 2013)[1]
Net Income: ₴302.701 million (2013)[2]
Num Employees:over 10 000
Owner:Mykola Lagyn (70.61%)
Cargill Financial Services (29.39%)
Homepage:deltabank.com.ua
Dissolved:2 October 2015

Delta Bank (Ukrainian: Дельта Банк) was one of the largest commercial banks in Ukraine. It was founded in February 2006 by Ukrainian businessman Mykola Lagun. It had its headquarters in Kyiv. Since 2006 the bank quickly increased due to consumer credit. The Bank ranked among the largest banks in its category according to the classification of the National Bank of Ukraine. In 2013 the Delta Bank provided services to 4.6 million customers in Ukraine.[3]

In July 2011, Cargill Financial Services International Inc. acquired 30% authorized capital stock in Delta Bank.[4]

On 2 March 2015 Delta Bank declared insolvent. The bank cited risky policies during a period of economic turmoil as the reason for its bankruptcy.[5] On 2 October 2015 the National Bank of Ukraine revoked its bank licence and liquidated the bank.[6]

See also

Notes and References

  1. http://en.deltabank.com.ua/f/2/investor/financial_results/bs_31_12_13.pdf Balance sheet 31/12/2013
  2. Profit "Delta Bank" in 2013 increased 3 times - to 302 million. RBC-Ukraine. January 29, 2014.
  3. http://en.deltabank.com.ua/ Delta Bank: About Bank
  4. http://en.deltabank.com.ua/about/history/ Delta Bank: History
  5. http://uk.reuters.com/article/ukraine-crisis-banking-idUKL5N0W53H920150303?feedType%3DRSS%26feedName%3DrbssFinancialServicesAndRealEstateNews Ukraine central bank declares fourth-largest lender insolvent
  6. http://en.interfax.com.ua/news/economic/294463.html NBU decides to liquidate Delta Bank