The National Bank of Ukraine (NBU) in 2017 received UAH 2.1 billion as payment of refinancing debts of insolvent banks.

According to a posting on the website of the NBU, the sum consisted of the funds received from property sold by the Individuals Deposit Guarantee Fund and the funds received from other sources.

The Individuals Deposit Guarantee Fund sold property for UAH 595.84 million in 2017 and the central bank received UAH 574.7 million of them. Some of the assets for the amount of UAH 529.2 million were claims to the credit agreements signed by the NBU. The sum of funds from selling property in 2017 exceeded the 2016 figure by 13%.

Among other sources of repayment of refinancing loans issued to insolvent banks were funds from the repayment of property rights in the amount of UAH 764.5 million, repayment of government bonds in the amount of UAH 664.3 million, sale of banking metals for UAH 62 million, repayment of property rights by third parties for the amount of UAH 7.3 million.

In addition, in 2017, the volumes of NBU's approval of the sale of the claims to pledged credit agreements increased more than 13-fold. In particular, 63 decisions were taken to implement the claims for 50,200 loan agreements, the total debt on which is almost UAH 55 billion.

"The increase in the approvals of the sale of mortgaged property was seen in connection with the increase in the promptness of managers' decisions made by the Deposit Guarantee Fund. The increase in sales of mortgaged property was also influenced by the transfer of the Deposit Guarantee Fund to the ProZorro electronic trading system, which enables to use 29 leading electronic sites of Ukraine and the impartiality of the tender organizers," the NBU said.