Deposit Guarantee Fund auctions pool of VAB Bank assets
The Individuals' Deposit Guarantee Fund has put the pool of assets of insolvent VAB Bank (Kyiv) up for auction at the First Financial Network Ukraine (FFN) site, the fund's website reports.
"On January 16, 2020, an auction will be held to sell the pool of assets of VAB Bank, which consists of 113 loans and three debtor indebtedness items of 61 legal entities – agricultural enterprises, 59 of which are current. Some 90 loans are pledged by the NBU," the report says.
The starting price of the UKR-2020-02 lot is UAH 5.859 billion.
The collateral for loan agreements includes real estate in Ivano-Frankivsk region: a sanatorium and servicing buildings with a total area of 5,001 square meters (the amount of security under the contract is UAH 443.5 million), two property complexes with an area of 10,399 square meters (UAH 335.3 million) and 2,783 square meters (UAH 71.5 million) respectively, as well as a production base of 768.7 square meters (UAH 19.2 million), an integrated property complex of 29,230 square meters (UAH 39.4 million) and a confectionery shop of 580 square meters (UAH 27.9 million).
At the same time, the collateral under loan agreements includes commercial real estate in Cherkasy region with an area of 22,893 square meters, the amount of collateral under the agreement of which is UAH 81.9 million.
"All the assets are associated with one shareholder," the regulator said.