Real value of Bank Nadra assets 6 times lower than book value

17:49, 06.03.2017 1 min read

The market value of the assets of PJSC Bank Nadra (Kyiv) included in the liquidation mass is UAH 7.9 billion, which is six times lower than their book value, according to data from an independent appraiser, posted on the website of the Individuals' Deposit Guarantee Fund.

According to the evaluator, 92% of the bank's assets is the loan portfolio, which was estimated at UAH 5.766 billion, 4% are fixed assets, whose real value is UAH 1.817 billion, which is UAH 53 million more than the book value, and 4% are other assets which were estimated at UAH 359 million.

According to the fund, the low market value of the bank's assets is mainly due to the problems that arose in it before the introduction of first temporary administration in 2009.

"In 2008-2009 bank chairman Ihor Hilenko, bank shareholders Illia Sehal and Vadym Sehal withdrew about UAH 8 billion from the financial institution through lending to related structures," the fund said.

Some 20 criminal cases were filed in respect of these persons on the fact of non-repayment of funds issued by the bank.