In July, insolvent banks receive over UAH 147M from Ukraine’s Guarantee Fund

In July, insolvent banks receive over UAH 147M from Ukraine’s Guarantee Fund

Ukrinform
Receipts of funds to banks liquidated by the Individual Deposit Guarantee Fund in January-July 2021 amounted to UAH 1,377.7 million, of which UAH 147.2 million was allocated in July alone.

That’s according to the Fund’s press service, Ukrinform reports.

"Receipts by banks managed by the Fund in July 2021 amounted to more than UAH 147.2 million," the statement reads.

It is noted that the vast majority of funds, UAH 134 million, came in July to the accounts of insolvent banks from the sale of assets through open and transparent e-auctions.

Read also: Volume, number of non-cash transactions with payment cards up by a third in H1 2021 – NBU

The largest amounts of funds from the sale of assets in July were seen by JSC JSCB Arkada (UAH 96.3 million); VTB Bank JSC (UAH 16.3 million); and JSC City Bank (UAH 10.3 million).

UAH 11.7 million was received from loan repayments, of which the largest receipts were reported by PJSC CB Premium (UAH 5.8 million); JSC JSCB Arkada (UAH 5.6 million); and JSC Rodovid Bank (UAH 0.1 million).

In July, banks managed by the Fund received UAH 1.5 million off of property lease.

In total, in January-July 2021, inflows of funds to insolvent banks stood at UAH 1,377.7 million, including UAH 1,171.7 million from the sale of property, UAH 131.6 million from loan repayment, UAH 64.9 million from repayment of securities, and UAH 9.5 million from property lease.

Read also: Deposit Guarantee Fund paid more than UAH 13M to depositors of insolvent banks in May

As Ukrinform reported earlier, in June 2021, the inflow of funds to banks liquidated by the Fund amounted to UAH 927.5 million.

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