Guarantee Fund launches competition: what will happen to Motor Bank and PINbank?
24 February 17:42
The Deposit Guarantee Fund (DGF) has announced an open tender for the withdrawal of two insolvent banks from the market— Motor Bank JSC and First Investment Bank JSC, according to "Komersant Ukrainian".
The aim is to find solutions that will minimize losses for depositors and ensure the transfer of assets and liabilities to new owners or acquiring banks.
How much money is subject to reimbursement
As of February 20, 2026, the amount of guaranteed payments is:
- for First Investment Bank — UAH 32.7 million;
- for Motor Bank — UAH 49 million.
The Fund emphasizes that the competition is open to banks and pre-qualified investors included in the relevant list of the National Bank of Ukraine.
What options are being considered
For PINbank, the DGF proposed several models for withdrawal from the market:
- liquidation with the transfer of assets and liabilities to the receiving bank;
- disposal of assets with revocation of the license and subsequent liquidation;
- creation of a transitional bank with subsequent sale to an investor;
- direct sale of the insolvent bank.
Competition participants will be able to independently select assets that they are willing to accept within the terms of the procedure.
NBU decision
On February 19, the NBU declared both banks insolvent. PINbank was previously confiscated from Russian businessman Yevgeny Giner, and Motor Bank from the former owner of Motor Sich, Vyacheslav Boguslaev.
On February 20, the Fund introduced temporary administration in these institutions for a period of one month.
Previous precedents
The Deposit Guarantee Fund has previously used the transitional bank mechanism. In particular, 100% of the shares of the transitional Ute Bank (created on the basis of the bankrupt RVS Bank) were sold to the Estonian group Iute Group AS.
This format allows investors to be found more quickly and avoids lengthy liquidation procedures.
What this means for depositors
The Fund guarantees the return of funds within the limits established by law. The further scenario will depend on the results of the competition — whether an investor will be found or whether the banks will be liquidated with a partial transfer of assets.
The procedure may test the banking system’s ability to respond quickly to problems at institutions with a complex ownership history.
