Deposit Guarantee Fund Generates UAH 3.8B Through Sale Of Insolvent Banks' Assets In 2024

(MENAFN- UkrinForm) Last year, a total of UAH 3.8 billion was transferred to the accounts of insolvent banks controlled by the Ukrainian Deposit Guarantee Fund, and 40% of this sum came from the sale of assets through auction on the Prozorro platform.

The relevant statement was made by Ukrainian Deposit Guarantee Fund Managing Director Olha Bilai in an interview with Ukrinform.

“We see that the assets are in demand, even despite the risks and lack of confidence in the long term. But, here everything depends on the quality of the assets that we sell. We see that there is less demand from abroad, due to war risks. But, the demand from local investors within the country is persistent, and we sell some assets for a very good price,” Bilai noted.

Last year's successful auctions included the real estate of Prominvestbank, namely premises in each large regional center. In 2023, the Koncha Zaspa-based hotel complex was sold with a conversion of over 100%.

Among the successfully sold assets, there was also a bank building in downtown Ivano-Frankivsk. Four bidders were competing for that lot. Thanks to competition, the winning bid increased more than twofold to UAH 70 million. Meanwhile, the Kyiv-based non-residential premises, intended as an outpatient clinic, were sold for UAH 72.3 million, which is 32% higher than the starting price.

In addition, the Deposit Guarantee Fund managed to sell for a good price the rights of claim under loan agreements secured by two solar power plants in the Odesa and Mykolaiv regions.

A reminder that, over three years since full deposit guarantee refund payments were introduced in April 2022, the Ukrainian Deposit Guarantee Fund had transferred more than UAH 9 billion to the depositors of insolvent banks .

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