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NBU revokes license of Ibox Bank due to poker tournament, improper financial monitoring
KYIV. March 7 (Interfax-Ukraine) – The Board of the National Bank of Ukraine (NBU) has decided to revoke the banking license of iBox Bank, 37th in terms of assets out of 66 Ukrainian banks, and liquidate it from March 7, 2023 due to a number of violations, including assistance in holding a sports poker tournament and insufficient financial monitoring of clients even after a warning from the regulator.
“The share of the financial institution was 0.1% of the assets of solvent banks, so its withdrawal from the market will not affect the stability of the banking sector of Ukraine,” the NBU said in a statement.