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Deposit Guarantee Fund pays off UAH 424.2 mln or 44% of total amount of claims of Misto Bank creditors
KYIV. Sept 29 (Interfax-Ukraine) – The Deposit Guarantee Fund repaid the claims of creditors of the first three tiers of insolvent Misto Bank in the amount of UAH 424.2 million, which is 44% of the total claims, the Deposit Guarantee Fund’s press service reported on Tuesday.
"In less than six months, thanks to effective asset management, their sale and property lease, we were able to pay off almost half of the approved claims of Misto Bank’s creditors," the press service said, citing Deputy Managing Director of the Fund Olha Bilay.
Next in line are individuals with deposits exceeding the guaranteed amount of UAH 200,000, whose creditor claims are related to the fourth priority. The amount of approved claims of the said creditors of Misto Bank is UAH 184.3 million.
As reported, on December 14, 2020, the NBU classified Misto Bank as insolvent due to a decrease in capital ratios by 50% or more than the minimum established level due to the loss of one of its main assets – a soybean processing plant in Kherson region with a book value of more than UAH 271 million (or almost 17% of all bank assets).
On January 27, 2021, the regulator made the decision to liquidate and revoke the bank’s banking license.
Misto Bank was founded in 1993. According to the NBU, as of January 1, 2020, the main shareholders of the financial institution were Ivan Fursin, who directly and indirectly owned 97.180668% of the bank’s shares, Latvian citizen Igor Buimister with 1.811499%.
As of October 1, 2020, the bank ranked 53rd in terms of total assets (UAH 1.498 billion) among 74 banks operating in the country.
