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National Bank of Ukraine Approves 25-Times More Initial Prices of Pledged Loan Agreements in Q1 2018

19 April 2018

Press Release

 

In Q1 2018, the National Bank of Ukraine (NBU) recovered UAH 969.2 million of refinancing loans of insolvent banks. The amount covers funds paid by the Deposit Guarantee Fund from selling pledged assets and other funding sources.

 

Specifically, the NBU received UAH 334.7 million from pledged assets sold by the DGF. Another UAH 299.0 million were recovered from selling property rights.

 

It should be noted that the NBU has approved 25-times more (up to UAH 41.4 billion) initial prices of property rights to pledged loan agreements yoy (UAH 1.6 billion).

 

"The contributing factor became the approval procedure for asset sale streamlined by the NBU in early 2018. At that time, the NBU initiated the portfolio approval of initial prices of assets pledged to the NBU thus reducing the time for auctioning such assets," noted Director of the Risk Management Department Ihor Budnyk.

 

Other repayment sources of refinancing loans of insolvent banks included as follows:

      domestic sovereign bonds redemption of UAH 185.1 million

      recognizing mortgage in the NBU balance sheet of UAH 85.6 million

      repayments of loans pledged to the NBU of UAH 64.8 million.

 

The highest price (UAH 145.2 million) in Q1 2018 was paid for the real estate mortgaged to the NBU by Delta Bank PJSC.

 

Please be reminded, since January 2017 assets pledged to the NBU are to be sold by the DGF via the ProZorro.Sales electronic trading system.


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Last modification   19.04.2018