Ukraine's Deposit Guarantee Fund pays over $246 mln to insolvent banks' depositors in 2017

At the same time, the Fund in 2017 received UAH 3.315 billion ($115.6 million) in regular fees from the participating banks, which was 0.5% down from 2016 when regular fees totaled UAH 3.332 billion ($116.2 million), it said.

Some 83 banks were registered as the Fund's participants as of January 1, 2018, which was 16 financial institutions down on January 1, 2017.

Read alsoUkraine to create single register of bank debtors As UNIAN reported earlier, the assets of Ukraine's Deposit Guarantee Fund were estimated at UAH 14.354 billion, or $500.7 million, as of January 1, 2018, which was 6.3% down from the figure as of January 1, 2017.

During the banking system purge, which started early in 2014, the National Bank of Ukraine has decided to close 96 banks, with 33 of them being declared insolvent in 2014, another 33 in 2015, 21 in 2016, and nine in 2017.

According to the Fund, it manages banks' assets worth UAH 450 billion ($15.7 billion) at book value. However, their estimated value is only UAH 100 billion ($3.5 billion) due to the poor quality of the assets, represented mainly by bad loans.