The Deposit Guarantee Fund puts up for sale the assets of 6 banks: what is included in the lot and who can participate
9 December 10:52
on December 15, ProZorro.Sale will host a large-scale auction in which the Deposit Guarantee Fund (DGF) will put up a large pool of loan assets of six banks in liquidation. The starting price of the lot is UAH 10.4 million, and the sale will be held according to the Dutch auction model. This was reported by the Guarantee Fund, "Komersant Ukrainian" reports
Which banks are represented in the pool
The assets on the balance sheet of the following banks are combined into one lot:
- JSC “Bank Forward”
- JSC “JSCB “Concord”
- PJSC Prominvestbank
- JSC “Bank Sich”
- JSC “MR Bank”
- JSC “Megabank”
In total, lot No. GL6N428119 includes 376 items – retail loans and receivables.
Pool structure: what assets are being sold
All assets are denominated in the national currency. The distribution is as follows:
- 57.4% – consumer loans;
- 35.3% – card loans;
- 7.3% – accounts receivable.
Other characteristics:
- average amount of debt: uAH 22-135 thousand;
- no collateral or guarantee – assets are sold without collateral;
- 82.7% of the contracts were concluded in 2014-2022;
- 16.7% – loans issued before 2013;
- 0.6% – debts after 2023;
- contracts are 95 to 3802 days overdue.
This is the first sale of this pool; it has not been put up for auction before.
Auction terms: how the sale will be held
The auction will be held according to the Dutch scheme:
- the price starts at UAH 10.4 million;
- gradually decreases until one of the bidders stops bidding;
- after that, other participants can bid in a closed round.
This mechanic allows for a quick sale of distressed assets and establishes the market value of the pool.
More detailed information about the assets, including the length of the overdue period, the work done in the court, the availability of original contracts or additional agreements, etc. is contained in the public asset passport and is also available for potential buyers to study in the virtual data room.
Who can participate
The DGF has set clear restrictions. The following are allowed to participate:
- individuals;
- resident and non-resident legal entities (except for limited categories).
Not eligible to participate:
- debtors and guarantors under the contracts included in the lot;
- citizens and companies of the Russian Federation;
- persons associated with the aggressor state;
- individuals or legal entities subject to sanctions.
Where the proceeds from the sale will go
All the money received from the auction will be used for
- settlements with creditors of liquidated banks,
- partial repayment of debts to depositors and other stakeholders.
The DGF emphasizes that the sale of such asset pools is an important mechanism for speeding up liquidation procedures.
