Deposit Guarantee Fund is going to trade insolvent banks’ assets at ubiz.com.ua web-resource

The Deposit Guarantee Fund will start trading insolvent banks’ assets by means of electronic actions system in the Internet, in particular – at ubiz.com.ua web-resource. That was a topic of the conference of the Fund’s press-club, which took place February 11th, 2015. According to information of DGF, 39 banks are being withdrawn from the market. Total estimated value of insolvent banks’ assets under liquidation is more than UAH 15,2 billion. Herewith, book value of assets (excluding reserves) is about UAH 83,4 billion. Thus, we faced an urgent need to involve maximal additional funds in order to meet the needs of depositors. For this, the Fund offered cooperation to 23 commodity exchanges chosen by competition results. “In order to inform about banks’ assets which are going to be sold and about commodity exchanges which will carry out such realization as well, in 2015 the Deposit Guarantee Fund launched a pilot version of Fund’s Information Portal (torgi.fg.gov.ua) which aims to accumulate and systematize the information on insolvent banks’ assets to be realized” – stated Fund managing director Kostiantyn Vorushylin. “Besides that, the Deposit Guarantee Fund has signed the Memorandum on cooperation with Commodity exchange “Electronic Auction of Ukraine” and our active work with other commodity markets is carried out with the aim to elaborate joint actions towards increasing public awareness on the realization of insolvent banks’ assets” – told Fund managing director Kostiantyn Vorushylin. He also added, that the use of electronic platforms allows accelerating the process of selling assets, provides convenience and speed of information exchange and encourages a wide range of potential buyers, and as a result – helps to realize Fund’s aims. Under the Memorandum signed between DGF and Electronic Auction of Ukraine a joint advertising campaign has already been launched with its aim to inform the society about the effective way of trading of insolvent banks’ assets – electronic auctions. In his turn, the expert on distressed assets, Member of the Competition Law Committee of Ukrainian Bar Association, Julian Khorunzhiy presented to attendants the system of conduction of electronic actions and its functioning principles. He emphasized that electronic actions are effective tool of selling insolvent banks’ assets. In order to gain the most effective realization of assets, the united multimodal platform was created at ubiz.com.ua web-resource, which allows any connected dealer to use all preferences of electronic action. “Besides that, the Deposit Guarantee Fund has signed the Memorandum on cooperation with Commodity exchange “Electronic Auction of Ukraine” and our active work with other commodity markets is carried out with the aim to elaborate joint actions towards increasing public awareness on the realization of insolvent banks’ assets” – told Fund managing director Kostiantyn Vorushylin. He also added, that the use of electronic platforms allows accelerating the process of selling assets, provides convenience and speed of information exchange and encourages a wide range of potential buyers, and as a result – helps to realize Fund’s aims. Under the Memorandum signed between DGF and Electronic Auction of Ukraine a joint advertising campaign has already been launched with its aim to inform the society about the effective way of trading of insolvent banks’ assets – electronic auctions. In his turn, the expert on distressed assets, Member of the Competition Law Committee of Ukrainian Bar Association, Julian Khorunzhiy presented to attendants the system of conduction of electronic actions and its functioning principles. He emphasized that electronic actions are effective tool of selling insolvent banks’ assets. In order to gain the most effective realization of assets, the united multimodal platform was created at ubiz.com.ua web-resource, which allows any connected dealer to use all preferences of electronic action. “The leader at the market of electronic trade of distressed assets – Commodity Exchange “Electronic Auction of Ukraine” – already conducts on-line actions at ubiz.com.ua web-resource. These auctions contain full information on different categories of goods and allow anybody to take part in auctions by means of simple registration from any point of Ukraine, and there’s no need to spend time to get to the place of auction” – informed Julian Khorunzhiy. “For more than two years of work of Commodity Exchange “Electronic Auction of Ukraine” I can confidently say that the orientation for public electronic actions has justified itself completely and is the only proper vector of the development of distressed assets trade market. The process of creation and support of the own electronic platform is very difficult and expensive. That’s why we advise all wishing dealers to exploit multimodal electronic platform at ubiz.com.ua web-resource, created under the best world standards, which will actually make work easier and help to keep up with the times” – stated the director of the central office and the director of Kyiv branch of Commodity Exchange “Electronic Auction of Ukraine” Iryna Serbin.