Assets and liabilities of insolvent Cominvestbank transferred to ASVIO BANK
4 February 2025 10:56
The winner of the open tender for the withdrawal of JSC Cominvestbank from the market is JSC ASVIO BANK, and the least expensive way to withdraw from the market is the alienation of part of the assets and liabilities of the insolvent Cominvestbank in favor of the receiving ASVIO BANK with the revocation of the banking license of JSC Cominvestbank and its subsequent liquidation. This was reported by the Deposit Guarantee Fund, "Komersant Ukrainian" informs.
The report says that on January 31, 2025, an agreement was signed on the transfer of part of the assets and part of the liabilities of Cominvestbank to the receiving ASVIO BANK. In particular, JSC ASVIO BANK transferred
– all rights and obligations of the debtor on deposits of individuals, including individual entrepreneurs, in JSC Cominvestbank (except for the amounts of guaranteed compensation received) and part of the obligations to other creditors of JSC Cominvestbank, including part of the obligations on claims of legal entities.
– rights of claim to part of the loans granted by JSC Cominvestbank to legal entities, part of the real estate, fixed assets and other assets of JSC Cominvestbank.
The total amount of liabilities transferred is UAH 303.7 million. The same amount is the value of the transferred assets, which significantly exceeds the income that the Deposit Guarantee Fund could have received from their sale during the liquidation procedure.
As for the transferred assets, as explained by ASVIO BANK, these are, in particular, part of the loan portfolio (loans to legal entities), government bonds, and the branch premises with the fixed assets located therein.
The Deposit Guarantee Fund also drew the attention of the clients of JSC Cominvestbank to the fact that, in accordance with the law, all the terms and conditions of deposit and other agreements on the transferred liabilities, including the term and currency of the deposit, interest rate, etc. The terms of the transferred loan agreements, foreign exchange contracts, etc. will also remain unchanged.
In other words, individuals and legal entities whose funds and obligations to which have been transferred to JSC ASVIO BANK have become clients of this bank.
Each debtor, depositor and creditor can obtain information about themselves at the premises of the insolvent Cominvestbank, as well as from 31.01.2025 – at the premises of the receiving ASVIO BANK (after identification). The receiving bank must also inform about the procedure for receiving the funds and other obligations transferred to it.
As a reminder, starting from December 6, 2024, a temporary administration was introduced in JSC Cominvestbank on the basis of the decision of the NBU Board “On classifying JSC Cominvestbank as insolvent” and the decision of the Executive Directorate of the Deposit Guarantee Fund “On introducing a temporary administration in JSC Cominvestbank and delegating the powers of the bank’s temporary administrator”. And on December 9, 2024, the Deposit Guarantee Fund announced an open tender to attract an investor/accepting bank to withdraw the insolvent JSC Cominvestbank from the market. The winner of the tender was JSC ASVIO BANK, which proposed the least costly way to withdraw the bank from the market – alienation of a part of assets and liabilities in favor of the receiving bank with further liquidation of the insolvent bank. A total of 5 people expressed interest in participating in the tender.
