Deposit Guarantee Fund sold bankrupt banks’ assets worth almost UAH 5B in 2023

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

It is noted that UAH 3.6 billion of this amount came from auctions for the sale of loan claims and UAH 1.3 billion – the sale of real estate, land and other property of banks.

According to the Fund, almost 76% of the annual amount was received from the sale of assets of former subsidiaries of Russian state-owned banks in Ukraine: UAH 2.3 billion from the sale of assets of JSC International Reserve Bank and UAH 1.5 billion from PJSC Prominvestbank.

The top five banks in terms of the amount of successful bidding also include: PJSC Zlatobank - UAH 0.5 billion, JSC Megabank - UAH 0.4 billion, and JSC Bank Sich - UAH 0.2 billion.

"In 2023, more than 10,000 auctions for the sale of assets of banks under liquidation were announced, with over 670 of them being successful. Since about 90% of the assets on the banks' balance sheets are loans, the proceeds from their sale account for the largest share," said Viktor Hutnichenko, Deputy Director of the Consolidated Asset Sales Department at the Deposit Guarantee Fund.

According to him, most of the banks' assets have already undergone the stage of individual bidding or are nearing completion. Thus, this year pools will be put up for sale more often, including those combined as part of a pilot project based on an industry approach.

As reported, more than UAH 6.4 billion was raised via auctions successfully held via in the ProZorro.Sale system in 2022-2023.