The Guarantee Fund get rid of the assets of liquidated banks

The Deposit Guarantee Fund has announced a new round of the sale of property of banks in the process of liquidation. As reported in FGIF, from 19 to 23 May in the ProZorro system. Sale will be sold eight banks for a total amount of UAH 209.3 million.

The list of banks whose assets were bidding included:

  • CSG Bank

  • Prominvestbank

  • MR Bank

  • Aibox Bank

  • Bank of Jan

  • Bank forward

  • Ukrbudinvestbank

  • Koncord

What do they sell?

According to official information, the main part of the assets is the rights of loans, which are estimated at UAH 116.2 million. That is, it is the obligation of borrowers to banks, which can now be transferred to other owners.

In addition, for sale are displayed:

  • real estate, land and other fixed assets - in the amount of UAH 75.7 million;

  • Receivables to banks - for UAH 17.5 million.

What does it mean to the market?

Such sales are part of the planned work of the Guarantee Fund for reimbursement to depositors of bankrupt banks. However, experts have repeatedly indicated that the real value of the assets sold is often much lower than the starting due to the dubious quality of portfolios and the lack of liquidity.

However, every penny that can be returned matters, because these revenues are directed to compensation for the losses of depositors who have not been fully offset within the guaranteed amount.

Recall that the system Prozorro. sale allows openly trade of state and banking property - and in theory minimizes corruption risks, although the effectiveness of realization of problem assets continues to raise questions in some analysts.

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