UNIAN
Kyiv Economic Court has ordered struggling Nadra bank to pay UAH 228.14 million in interest to the State Mortgage Institution, but the decision has been appealed against by the representatives of the bank.
The Supreme Economic Court of Ukraine (SECU) confirmed the decision of the Economic Court of Kyiv to recover UAH 228.14 million from Nadra bank under the loan agreement in favor of the State Mortgage Institution (SMI).
According to the press service of the SMI, the court issued such decision on March 12.
The State Mortgage Institution in Ukraine was established by the resolution of the Cabinet of Ministers of Ukraine on October 8, 2004.
The SMI has been tasked with refinancing mortgage loans using funds obtained from the placement of its own bonds. The securities are placed by public sale in Ukraine among investors - individuals and legal entities, residents and non-residents. One-hundred percent state guarantees are issued on the securities.
In 2013, the SMI’s net income fell by almost 2.4 times compared with 2012 - to UAH 12.65 million. In 2013 the net income of the institution decreased by 15.1% - to UAH 208.38 million.
Nadra bank has been operating in Ukraine since 1993 and is one of the largest of the country’s bank in terms of assets volumes. The main shareholder of the bank is Centragas Holding AG company affiliated with a Dmytro Firtash’s group of companies Group DF (Austria, 89.9659% of shares).
In 2014, the bank incurred losses of UAH 1.041 billion, while in 2013 the bank finished with a profit of UAH 2.374 million. However, in February 2015, Nadra bank was declared insolvent, and the Deposit Guarantee Fund has appointed an interim administration to the bank.