11:36 01.12.2015

Deposit guarantee fund hopes to have UAH 16 bln of financing in 2016

2 min read
Deposit guarantee fund hopes to have UAH 16 bln of financing in 2016

The Individuals' Deposit Guarantee Fund expects to receive around UAH 16 billion from the government in 2016, fund managing director Kostiantyn Vorushylin has said.

"As for next year, we will ask the government to include in the budget around UAH 16 billion. This takes into account the requirements of the law obliging us to have at least 2.5% of the total sum of guaranteed payments on accounts. We should have over UAH 4.5 billion on our account," he said in an interview with the Dilova Stolytsia newspaper.

He said that the fund will be send UAH 12 billion to fulfill its liabilities to depositors this year, including UAH 3 billion on the account and UAH 9 billion of total borrowing for 2016 (a total of UAH 21 billion).

He also said that this year the fund received around UAH 700 million from sale of assets of insolvent banks, and by the end of 2015 the figure would increase to over UAH 1 billion.

Vorushylin said that in 2016, the fund would receive from UAH 5 billion to UAH 12 billion from the sale of assets of insolvent banks. He said that the National Bank of Ukraine (NBU) could obtain at least UAH 15-20 billion from the sale of assets in 2016.

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