12:31 06.08.2014

Russia's Depositor Protection Fund trying to become creditor of Oschadbank

2 min read
Russia's Depositor Protection Fund trying to become creditor of Oschadbank

Russia's Depositor Protection Fund is trying to become a creditor of the State Saving Bank of Ukraine (Oschadbank, Kyiv), the press service of Oschadbank said in a press release.

"The recent letter is the peak of impudence, as the fund calls itself creditor of the leading state bank and demands to send money which it allegedly pays to our depositors in Crimea back to the fund. We declare in public that Oschadbank is fulfilling its liabilities to Crimean clients," reads the press release.

The press service said that Oschadbank resumed the servicing of Crimean clients from July 23.

"We don't need any help, all the more, from the residents of the state-aggressor and the state-occupant, which is under international sanctions," reads the press release.

According to the report, after May 8, 2014, when Oschadbank stopped its operations in Crimea, Russian occupation authorities embezzled the Crimean chain of the bank (almost 300 departments).

According to the press release, property, documents, the client's database and cash in the storage facilities of the Oschadbank's Crimean Republican department were seized. All legal attempts of the bank to take out cash and documents to the continental part of Ukraine were blocked.

According to the press release, later, the autonomous non-profit organization Depositor Protection Fund was created and it has been sending letters to Oschadbank for two months.

Oschadbank was founded in 1991. Its sole owner is the state.

According to the National Bank of Ukraine, on July 1, 2014 by total assets it ranked second (UAH 115.6 billion) among 173 banks operating in the country.

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