Problem loans: Ukrgasbank will sell NPLs at auctions
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Gosudarstvenny Ukrgazbank started to sell claim rights on non-performing loans (NPL) at open auctions. This was reported by the bank’s press service.
Photo: depositphotos 1
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The first auction
The first auctions will be held on January 19 on the OpenMarket electronic platform of the SETAM state enterprise. Auctions will be held according to the “English” model – without reducing the starting price of the lot.
According to published data, non-performing assets worth UAH 683 million are up for sale, including claims on non-residential premises in several regions of Ukraine (Zhytomyr, Kamenets-Podolsky, Dnipro, Kyiv, Kharkiv), a hotel in Polyana in Transcarpathia, an apartment in Kyiv, industrial equipment, vehicles, etc.
Read: NBU advises banks to sell problem assets at a discount, and not to write off loans
The full list is here.
Let’s remind
As the Ministry of Finance wrote, the share of non-performing loans (NPL) in the banking sector as of December 1, 2022 was 36.8% compared to 35.5% on November 1.
What is a problem loan
These are dubious and hopelessly refundable loans. According to the recommendations of the IMF, loans are considered invalid if the payment of the principal amount and interest on them is overdue: 1) for three months (90 days) or more; 2) less than 90 days, however, in accordance with national supervision standards, it is considered that the service of such a loan is “weak” or “unsatisfactory”.
Author: News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
Source: Ministry of Finance
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