NBU proposes to forcibly seize UAH 26 billion of assets of subsidiaries of Sberbank, VEB in favor of the state

On March 11, the National Bank of Ukraine (NBU) sent a letter to the Cabinet of Ministers, in which it proposed to forcibly seize the financial assets of IR Bank (formerly Sberbank) and Prominvestbank, which had been withdrawn from the market at the beginning of the war, Sberbank of Russia and VEB. RF,” NBU Governor Kyrylo Shevchenko said.

“About 26 billion UAH can be sent to state revenue. These are cash, government bonds, certificates of deposit,” he said in an interview with Economic Pravda , released on Friday.

Shevchenko recalled that these banks had their licenses revoked in the early days of the war. “And today we understand that the next step should be the forced withdrawal of these assets. It is clear that the Ukrainian depositors of these banks must first receive their deposits within the limits of the guaranteed amount,” the chief added. of the NBU.

Asked about Forward Bank and Pinbank, which also have Russian owners, Shevchenko said they had no significant impact on the market.

“If, for example, we are talking about the same Pinbank, then it served its group exclusively as a captive, and if something even happens to it, it will be zero point zero tenths something of the total banking system.

Regarding Forward Bank, there is indeed a Russian owner. It has a different model – consumer credit. If his model resists this load, then he will resist, said the governor of the NBU.

He reiterated the position of the central bank that the Ukrainian bank Alfa, unlike those listed above, is important for the banking system and has not been sanctioned, unlike a number of its shareholders.

“Our task is to act in such a way that millions of Ukrainian depositors do not suffer. The bank’s shareholders must look for a way out of this situation. I do not exclude that it may be a sale to another owner. But this should be a sale that will not be seen as an attempt to circumvent sanctions,” Shevchenko said.

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