Raiffeisen Bank Aval sues the National Bank Of Ukraine

The Kyiv District Administrative Court opened proceedings on the lawsuit filed by Raiffeisen Bank Aval against the National Bank of Ukraine (NBU) demanding cancellation of the 4.9 million UAH ($190,810.00) fine imposed on them, as stated in Decree No. 826/9684/17 dated August 4th, FinClub reports.

“Bank Aval PJSC appealed to the Kyiv District Administrative Court with an administrative claim against the National Bank of Ukraine requesting to recognize as unlawful and cancel the decision dated June 30, 2017, No. 220 regarding the imposition of a fine in the amount of 4,923,613,01 UAH ($190,810.00) and the obligation to perform certain actions,” the document reads.

The court materials do not specify the cause of fine on Raiffeisen Bank Aval.

The court ordered the opening of proceedings in the administrative case and obliged the respondent to submit written objections by January 18, 2018 as well as all materials that were or could be taken into consideration when making the judgment, committing an action, or admitting inaction, on which grounds the lawsuit was filed.

Based on the results of January-June 2017, the profits of Raiffeisen Bank Aval increased by 88%.

  Raiffeisen Bank Aval, NBU, fine, Ukraine