“The Individual Deposit Guarantee Fund (FGVFO) sold the assets of bankrupt banks at a significantly lower price than their book value or appraised value.”, — write: epravda.com.ua
The Individual Deposit Guarantee Fund (FGVFO) sold the assets of bankrupt banks at a significantly lower price than their balance sheet or estimated value. This was reported by the press service of the State Audit Service. According to the service, this led to losses of tens of billions of hryvnias for bank depositors and creditors. The main task of the Fund there is a return of deposits of individuals in case of bank liquidation. For this purpose, the assets of insolvent banks are sold through open auctions, in particular through the electronic system “Prozorro. Sales”. Advertisement: In particular, the book value of the sold assets was UAH 631.2 billion, their estimated value was UAH 92.3 billion. However, only UAH 21.2 billion was actually received, which is only 3.4% of the book value and 23% of the estimated value, reports the head of the State Audit Service of Ukraine Alla Basalayeva. One of the main problems during the sale of assets is the depreciation of their value. For example , the pool of assets of three banks was sold for only UAH 124.6 million, while the estimated value of only one of them was UAH 228 million. Advertisement: Such sales of bank assets could not fully return funds to legal entities and even the Deposit Guarantee Fund. As a result, the Fund was forced to write off UAH 47.5 billion in receivables from bankrupt banks. “Thus, the significant amount of bank debt and the existing tendency to write it off deprives the Fund of the opportunity to fully repay the obligations,” the head of the State Audit Service emphasized.
