The Guarantee Fund sells the assets of Concord Bank
28 June 2024 08:00
The Deposit Guarantee Fund is putting up for sale the rights of claim under loan agreements with apartments as collateral. This is reported by "Komersant Ukrainian" with reference to the press service of the Deposit Guarantee Fund.
“On 4 July 2024, an auction for the sale of the assets of JSC Concorde Bank, which is being liquidated by the Deposit Guarantee Fund, will be held in the Prozorro.Sale system. The lot includes the rights of claim under loan agreements concluded with legal entities and individuals, as well as receivables from individuals,”
– the statement said.
Residential real estate was registered as collateral for the fulfilment of obligations to the bank, namely: 31 apartments in Kharkiv with a total area of 1,333.2 sq m.
The Guarantee Fund notes that the right to recover the debt from the debtor under the loan agreement in court or out of court is put up for sale.
The starting price of the lot is UAH 18.6 million.
The auction will be held according to the Dutch auction model.
As a reminder, the National Bank of Ukraine does not agree with the decision of the Dnipropetrovs’k District Administrative Court of 29 May 2024 to declare unlawful and cancel the regulator’s decision to revoke the banking licence and liquidate JSC “JSCB “CONCORD” and will appeal against it within the time limit set by law.
It should be noted that in August 2023, the National Bank of Ukraine decided to revoke the banking licence of JSCB Concorde and liquidate it due to the bank’s systematic violation of the requirements of the legislation on prevention and counteraction to legalisation (laundering) of the proceeds of crime or terrorist financing and financing of the proliferation of weapons of mass destruction.
The share of Concord Bank was only 0.17% of the assets of solvent banks, so its withdrawal from the market did not affect the stability of the Ukrainian banking sector.
What is known about Concord Bank
Joint Stock Commercial Bank Concord was registered on 7 August 2006. The bank was owned by entrepreneurs Elena and Yulia Sosiedko.
According to media reports, it serviced approximately 25% of the gambling market, helping it avoid taxation through the use of a mis-coding scheme.
During its operation, 14 branches were opened: 4 in Dnipro, 3 in Kyiv, 2 in Odesa, as well as in Lviv, Kryvyi Rih, Zaporizhzhia, Novomoskovsk and Kharkiv.
