Guarantee Fund Sells Russian State Bank Assets Worth ₴5.2 Billion

by Roman Cheplyk
Thursday, July 25, 2024
1 MIN
Guarantee Fund Sells Russian State Bank Assets Worth ₴5.2 Billion

The Individual Deposit Guarantee Fund sold assets of Russian state banks through Prozorro.Sales, raising ₴5.2 billion over two years

Key Highlights:

  • Asset Sales: Since July 2022, the Individual Deposit Guarantee Fund has conducted 415 successful auctions via the Prozorro.Sales system, selling assets of Russian state banks such as JSC "MR Bank" (formerly "Sberbank") and PJSC "Prominvestbank".

  • Auction Details:

    • Total Raised: ₴5.2 billion
    • Competition: Average of 3 participants per auction
    • Price Increase: Average increase of 22%
    • Participants: Over 700 participants in electronic auctions
  • Notable Auctions:

    • Most Participants: An auction for a 2015 Volkswagen Passat attracted 48 participants, increasing the asset's value from ₴224.4 thousand to ₴610 thousand.
    • Most Expensive Lot: Claims under credit agreements with collateral, including a solar power plant and registered shares, were sold for over ₴683 million in a Dutch auction.
  • Funds Allocation: Proceeds from the sale of confiscated Russian assets are directed to the Fund for the Liquidation of the Consequences of Armed Aggression.

  • Compensation Payments: In the first half of 2024, the Individual Deposit Guarantee Fund paid ₴87.3 million in guaranteed compensation.

Conclusion

The sale of Russian state bank assets by the Individual Deposit Guarantee Fund through Prozorro.Sales has successfully raised ₴5.2 billion, demonstrating effective asset liquidation and competitive auction processes. The funds are crucial for addressing the consequences of armed aggression.

You will be interested