The Guarantee Fund has extended the competition for investors in PINbank and Motor Bank: when will applications be accepted?
5 March 19:26
The Deposit Guarantee Fund has extended the deadline for open competitions to find investors to withdraw insolvent banks—First Investment Bank and Motor Bank—from the market, according to Komersant.
According to the Fund, the deadline for submitting applications to participate in the tenders has been extended to March 17, and the final decision on the winners is to be made by March 19, 2026.
Why the deadlines were extended
The Fund explained that the additional time is needed for potential investors to:
- make a decision on participation,
- prepare their bids,
- submit the necessary documents.
Until March 10, interested participants can submit applications for admission to the so-called “data room“ — access to the banks’ financial information.
This also gives companies that did not have time to submit documents earlier but are ready to consider the possibility of buying banks a chance.
Who can buy banks
Earlier it was reported that six companies — three banks and three non-bank financial institutions — are bidding to acquire these financial institutions.
Among the banks that have expressed interest are:
- Asvio Bank
- Tascombank
- Industrialbank
How the banks ended up on the market
On February 19, the National Bank of Ukraine declared both institutions insolvent.
These are:
- PINbank, formerly associated with Russian billionaire Yevgeny Giner
- Motor Bank, associated with the former head of Motor Sich, Vyacheslav Boguslaev
After that, the Guarantee Fund introduced temporary administration in the banks for a period of one month and began the process of searching for investors.
The goal of the competition
The purpose of the competition is to find an investor who can remove the banks from the market in the least costly way for the state.
If a buyer is found, the banks may be sold to new owners or transferred to another financial institution. If no investor is found, the Fund may proceed with liquidation.
