Concord Bank has ceased operations in Ukraine

Inna Kramarchuk
Inna Kramarchuk Journalist
Concord Bank has ceased operations in Ukraine
JSC 'Concord Bank'
On 5 May 2026, an entry was made in the Unified State Register regarding the termination of the activities of JSC “AKB Concord” as a legal entity. At the same time, the powers of the Deposit Guarantee Fund as the institution’s liquidator came to an end

This is reported by Newssky.ua

The bank’s history and the decision to wind it up

The liquidation of JSC “AKB Concord”, which lasted almost three years following the National Bank’s decision to revoke its licence, has been officially completed. The Deposit Guarantee Fund has concluded all procedures relating to payments to depositors and the settlement of creditors’ claims. On 5 May 2026, an entry was made in the Unified State Register regarding the termination of the bank’s activities as a legal entity. Following this, the Deposit Guarantee Fund’s powers as the institution’s liquidator also ceased. Concord Bank had been operating in Ukraine since 2006. In 2012, control of the bank passed to Olena and Yulia Sosedka. Following the change of ownership, the institution began to actively expand its operations and increase its assets. As of June 2023, the bank’s assets were valued at 4.83 billion UAH. At that time, Concord ranked 35th among Ukraine’s 65 operating banks.

Why the NBU revoked the licence

The National Bank had repeatedly identified breaches in the areas of financial monitoring and anti-money laundering. The regulator imposed a fine of 60.4 million UAH on the bank and issued a written warning, but the situation did not improve. In August 2023, the NBU decided to revoke the bank’s licence and initiate liquidation proceedings. The grounds for this were systematic breaches of legislation on the prevention of money laundering. According to the regulator, the bank failed to properly comply with requirements regarding customer verification and the monitoring of financial transactions.

How payments to depositors were made

Following the start of liquidation, the Deposit Guarantee Fund sold off the bank’s assets, made payments to depositors and settled creditors’ claims between 2024 and 2025. According to the Fund, over 95% of depositors received compensation within the guaranteed limits. The remaining liabilities were settled through the sale of the bank’s assets. All stages of the liquidation were accompanied by regular reports, and customers could check the status of payments via online services.

Consequences for the banking system

Experts note that the liquidation of “Konkord” did not cause any significant upheaval for the banking sector. Following this, the National Bank tightened its supervision of mid-tier institutions, and the deposit guarantee scheme confirmed the effectiveness of the mechanism for protecting depositors even in complex cases.

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