In August 2016, the National Bank of Ukraine received UAH 123.2 million as proceeds from the sale of mortgaged property and property rights pledged as collateral by insolvent banks against refinancing loans. In particular, the NBU received UAH 58.5 million as proceeds from the sale of 26 items of mortgaged property. The amount recovered from the sale of collateral has more than tripled compared with July’s figures.
In the first eight months of 2016, a total of UAH 333.5 million was received by the NBU as proceeds from the sale of 158 items of mortgaged property. The proceeds from the sale of the real estate pledged as collateral by Bank FORUM PJSC accounted for the largest portion of this amount.
Director of the NBU Risk Management Office Mr Ihor Budnyk said that a pick-up in the sales of assets held by the NBU as collateral can be attributed to a gradual decline in the starting price for property and an increase in the number of bidders.
In Q2 2016, the National Bank of Ukraine received UAH 163 million as proceeds from the sale of assets pledged as collateral by insolvent banks against refinancing loans.