In October-November 2016, the National Bank of Ukraine received UAH 81.2 million as proceeds from the sale of mortgaged real estate pledged as collateral by insolvent banks or banks under liquidation.  In particular, in November, the NBU received UAH 77 million as proceeds from the sale of three pieces of mortgaged real estate.

In the first eleven months of 2016, a total of UAH 443.7  million was received by the NBU as proceeds from the sale of 170 pieces of mortgaged real estate.

The proceeds from the sale of the real estate pledged as collateral by BG BANK PJSC accounted for the largest portion of this amount.

“With the aim of attracting  more potential buyers for the assets of insolvent banks  held by  the NBU as collateral and enhancing the transparency of the asset disposal process, in October, the NBU reached an agreement with the Deposit Guarantee Fund to sell the aforementioned assets through the ProZorro public procurement system,” said Director of the NBU Risk Management Department Mr Ihor Budnyk.

The results of debt recovery efforts for 2016 through the sale of mortgaged property and property rights will be published by the NBU in January 2017.

For reference

With the aim of attracting more potential buyers for the assets of insolvent banks  held by  the NBU as collateral and enhancing the transparency of the asset disposal process, the NBU adopted a decision to sell the mortgaged property through the ProZorro public procurement system, effective from 24 October 2016.