FGVFO paid 99% of the debt to the participants of the 9th round of creditors of the Bank “Concord”

The Deposit Guarantee Fund of Individuals paid more than 99% of the debt owed to the participants of the 9th round of the register of accepted claims of Concord Bank creditors. This was reported by the Individual Deposit Guarantee Fund in response to a request UNN.

As of today, the approved amount of claims of creditors of the 9th tier of JSC “AKB “Concord” is UAH 238.96 million. More than 99% of them have been repaid, namely UAH 238.82 million

In addition, the FGVFO added that the satisfaction of creditors’ demands of Concord Bank, the introduction of changes to the register of accepted creditors’ claims and the acceptance of applications from creditors with current bank details are ongoing.

Let’s add

The Deposit Guarantee Fund of Individuals reported that this week it put up for sale the assets of 9 banks, including the assets of “Concord”. In particular, they plan to sell the bank’s assets for a total amount of UAH 34.70 million, of which UAH 27 million are accounts receivable and UAH 7.69 million are credit claims.

We will remind

Despite the war in Ukraine, the process of withdrawing banks from the market did not stop. Thus, from February 24, 2022, the liquidation process was started for 8 banks. For the first time in Ukraine, not only bankrupt banks were subject to liquidation and license revocation, but also profitable institutions – in particular, we are talking about Bank “Concord”. The process of depriving a banking institution of its license takes place without a court. Of course, bank owners and shareholders can appeal the decision of the regulator – the National Bank of Ukraine, already after it has adopted a decision to liquidate the bank, however, in general, the process of withdrawing a banking institution from the market, if it has been started, is irreversible.

The NBU’s decision to liquidate the Concord bank was declared illegal, what’s next. Lawyers’ answer27.11.24, 11:53 • 228459 views

In addition, the liquidation of a profitable bank has not been settled in Ukraine. As Olena Sosedka, co-owner of Concord Bank, stated, at the time the regulator announced the decision to liquidate the bank, the financial institution had enough liquid assets to make all necessary payments in 2-3 weeks. But the process of bank liquidation is strictly regulated by law and can last up to three years in general.