Ferrexpo had $174 million at the Finances and Credits bank, that had been named insolvent.
“As of September 16, the total monetary assets of the group constituted about $280 million after paying all the interim dividends. $174 million of this amount the company kept in the bank, with the rest in offshores”, said the company in its statement.
On September 17 the National Bank of Ukraine named the bank insolvent.
Finances and Credits bank was founded in 1990. As of July 1, 2015 it held the 10th place among the 127 acting banks as to the assets volume. (Ukrainian metal)