Photo from UNIAN
Companies related to the former owners of insolvent Imexbank, Brokbiznesbank and Pivdenkombank owe a total of UAH 20 billion on loans to these banks, according to the Individual Deposit Guarantee Fund (IDGF).
According to the IDGF, the debt on 43 loans of entities related to the former owners of Imexbank totaled UAH 8.62 billion, the debt on 12 loans associated with the previous owners of Brokbusinessbank amounts to UAH 7.41 billion, while the debt on 22 loans of legal entities with signs of funds withdrawal by insiders of Pivdenkombank totals UAH 3.77 billion.
Almost half of the loans in the liquidated banks are those of 600 major business groups, mostly related to the banks’ ex-owners. Moreover, the debts are neither supported nor serviced, Director of consolidated sales and asset management at DGF Julia Bereschenko told a press conference.
"Larger borrowers withdraw their assets due to the weakness of Ukraine's legal framework and position of courts, which mainly side with borrowers. Loan and pledge agreements are being litigated. Sometimes the situation becomes too absurd: some borrowers, who have serviced the loan for many years, manage to prove in court that, in fact, they have not taken the loan," she said.
Read alsoDeposit Guarantee Fund's financial resources up by almost 9%Bereschenko stressed that such judicial practice is practically nullifying the efforts of the IDGF on the sale of assets of banks in liquidation. "Last year, we sold assets worth UAH 3.2 billion but we have under-received UAH 900 million of this sum due to court rulings. According to tentative estimates, we sold assets worth UAH 450 million in January 2017 alone. However, the courts again prevented us from getting UAH 140 million of the sum," she added.
Earlier, the IDGF reported that independent appraisers had estimated the assets of 70 liquidated banks, which formed the liquidation mass, at UAH 94 billion, which is 75% less than the carrying value of these assets at UAH 418 billion, taking into account their quality and actual market value.
Read alsoNBU launches diagnostics of another 37 banksUNIAN memo. During the banking system purge in 2014-2017, the National Bank of Ukraine withdrew from the market 90 banks, with 33 of them declared insolvent in 2014, another 33 - in 2015, 21 - in 2016, and another three - in 2017.