TLDR:
- In 2023, the Deposit Guarantee Fund of Ukraine sold bankrupt banks’ assets worth more than UAH 4.9 billion.
- UAH 3.6 billion came from auctions for the sale of loan claims and UAH 1.3 billion from the sale of real estate, land, and other property.
- Almost 76% of the amount came from the sale of assets of former subsidiaries of Russian state-owned banks in Ukraine.
- Top five banks in terms of successful bidding include PJSC Zlatobank, JSC Megabank, and JSC Bank Sich.
- Over 10,000 auctions were announced in 2023 for the sale of assets of banks under liquidation, with over 670 being successful.
In 2023, the Deposit Guarantee Fund of Ukraine sold bankrupt banks’ assets worth more than UAH 4.9 billion, according to the Fund’s press service. Of this amount, UAH 3.6 billion came from auctions for the sale of loan claims, while UAH 1.3 billion came from the sale of real estate, land, and other property. The Fund reported that almost 76% of the annual amount was received from the sale of assets of former subsidiaries of Russian state-owned banks in Ukraine. Specifically, UAH 2.3 billion came from the sale of assets of JSC International Reserve Bank, and UAH 1.5 billion came from PJSC Prominvestbank. The top five banks in terms of the amount of successful bidding included PJSC Zlatobank with UAH 0.5 billion, JSC Megabank with UAH 0.4 billion, and JSC Bank Sich with UAH 0.2 billion.
Viktor Hutnichenko, Deputy Director of the Consolidated Asset Sales Department at the Deposit Guarantee Fund, stated that more than 10,000 auctions were announced in 2023 for the sale of assets of banks under liquidation, with over 670 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. He also mentioned that most of the banks’ assets have already undergone the stage of individual bidding or are nearing completion, and 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.
Overall, the Deposit Guarantee Fund of Ukraine has successfully sold bankrupt banks’ assets, primarily loans and real estate, for a total of UAH 4.9 billion in 2023. The majority of these assets came from former subsidiaries of Russian state-owned banks. The Fund aims to continue selling the remaining assets through individual bidding and pool sales in the upcoming year.
