The losses of Ukrainian banks from Russian aggression exceeded 70 billion UAH.

The losses of Ukrainian banks from Russian aggression exceed 70 billion UAH

The Deposit Guarantee Fund reported that Ukrainian banks incurred losses due to Russia's actions from 2014 to 2022 amounting to over 70 billion UAH.

'We have one positive decision from a Ukrainian court for the amount of 1.9 billion UAH. Another lawsuit is pending in the appellate court, and in January 2025 we filed a consolidated claim against the Russian Federation, where we combined the losses incurred by creditors in five banks under the management of the Deposit Guarantee Fund,' said the managing director of the Deposit Guarantee Fund, Olga Bilai.

The funds that were in the accounts of two banks withdrawn from the market since the beginning of Russian aggression in 2022 (MR BANK, Prominvestbank) were fully transferred to the state. Guaranteed amounts to depositors were paid, and the Fund satisfied the claims of creditors who had no relation to these banks through the sale of assets.

'We fully satisfied the claims of the 8th priority, while the claims of the 9th and 10th priorities were related to the parent bank, the state-owned Russian bank. A decision was made by the National Security and Defense Council of Ukraine regarding the transfer of ownership (shares of the bank) to the state of Ukraine. Now these two former state-owned Russian banks fully belong to the state of Ukraine and have no debts to their parent banks. We pay all funds to the state as a creditor, and then, after the repayment to the creditor, we will return as a shareholder. Thus, these two banks fully operate on behalf of the state of Ukraine,' explained the managing director of the Fund.

Losses from banks liquidated before 2022 will be collected through court decisions of Ukrainian and foreign jurisdictions. As for the banks that came under the Fund's supervision since the beginning of 2022, the Fund also plans to file claims for damages through the International Register of Losses.

'We will definitely demand and defend the interests of both the country and the banks and their creditors,' said Olga Bilai.