Customers have been queuing to withdraw their money at Brokbiznesbank in Kyiv.
Concerns over the banks financial health continue to rise following reports of ATM faults and a major client of the bank switching to a state-owned institute on 11 February.
Go deeper with GlobalData
The Ukrainian bank was quick to deny that there were any problems other than some glitches caused by it switching from Visa to the MasterCard payment system.
A spokesperson for the bank said: "Due to the failure of the Visa payment system, difficulties arose in transactions with payment cards. Work to resolve the problems continues."
Meanwhile the CEO of Kyivmiskbud, the construction company that has taken its custom elsewhere, said the decision to switch banks was unconnected to any problems at Brokbiznesbank.
According to local newspaper Zerkalo Nedeli, retail customers withdrew around $9m from Brokbiznesbank in deposits last week.
Analysts have warned that even if the bank is in good shape now, it could be destabilised if this trend continues.
An anonymous analyst said: "It is not just the queues today – they have not been making payments for a couple of weeks, there is a whole heap of problems."
"The National Bank of Ukraine will probably try and bail out the bank, but any bailout funds will just be converted into hard currency."
Related articles:
FUIB enlists Moneygram for money transfer service in Ukraine
PrivatBank to launch Google smart glasses apps
SEB completes sale of Ukrainian retail banking unit
