This year the indebtedness of Deposit Guarantee Fund to the National Bank of Ukraine  decreased by about 25%, or by UAH 2.3 billion, to UAH 6.8 billion. The last repayment of the loan tranche was ahead of schedule, on October 5, in the amount of UAH 1.3 billion.

More efficient debt repayment is enabled by active sale of assets of insolvent banks by DGF.

Thus, insolvent banks account for UAH 4.9 billion from UAH 7.4 billion of revenues from banks, which became the main source of DGF replenishment from the beginning of this year. These are the funds received by DGF from the sale of their assets as a reimbursement of the cost of repayment to depositors of these banks. Another UAH 2.5 billion were revenues in the form of regular payments from operating banks.

“Owing to stable revenues and significant reduction of expenditures, the DGF is able to accumulate funds and, for the first time since 2014, not only ensure repayment to depositors of insolvent banks without  extra government loans, but also make early repayment of their existing liabilities”, said Ms Olena Nuzhenko, DGF Financial Department Director.

The main DGF expenses on reimbursement to depositors tend to decrease, having made  UAH 6.7 billion in 9 months, which is almost twice less than the amount of last year payments.