Deposit Guarantee Fund expects to receive 70% of remaining amount of reimbursement from related parties of liquidated banks

KYIV. Sept 13 (Interfax-Ukraine) – The Deposit Guarantee Fund expects to receive 70% of the remaining amount of reimbursement from related parties of the liquidated banks, Director of the Financial Department of the Deposit Guarantee Fund Olena Nuzhnenko has told Interfax-Ukraine.

"Today, our reimbursement is about 30% and we think that the main remaining amount will be received from related parties [of the liquidated banks]," she said during a campaign dedicated to the 23rd anniversary of the foundation of the Deposit Guarantee Fund held on Friday.

Nuzhnenko said that the reimbursement of the withdrawn funds of liquidated banks is a priority task for the Fund, since after the sale of most of the assets that were on the balance sheets of banks, such reimbursement remains the main source of money, which will enable the Fund to increase the coverage of all creditors in liquidated banks in the future.

"We have both evidence and tools that allow us to be confident that we will get a positive effect," Nuzhnenko said.

According to her, it takes at least two to three years for a trial, and it also takes a certain amount of time for its implementation, therefore, the reimbursement, according to the most positive estimates, will take at least three years.

"There will probably not be such rates [of reimbursement] as it was in 2016-2018," she said.