DGF Pays UAH 102.3 Million To Depositors Of Insolvent Banks In May

The Deposit Guarantee Fund (DGF) paid out UAH 102.3 billion to depositors of insolvent banks in May 2022.

The DGF said this in a statement, Ukrainian News Agency reports.

As of June 1, 2022, there were 69 operating banks in the register of participants in the Deposit Guarantee Fund.

At the beginning of June 2022, the liquidation of 49 insolvent banks continued, and the liquidation of 51 banks was completed.

The total amount of funds accumulated by the fund as of June 1, 2022 amounted to UAH 19,268.5 million.

From the regular fee, the fund received UAH 2,337.1 million in January-May 2022.

In May 2022, payments of guaranteed compensation to depositors of banks managed by the fund amounted to UAH 102.3 million.

In total, in January-May of this year, depositors of banks liquidated by the fund received a guaranteed refund in the amount of UAH 695.6 million.

As of June 1, 2022, the total amount of payments within the guaranteed compensation to depositors of banks transferred to the fund's management after the entry into force of the law "On the system of guaranteeing deposits of individuals" (February 26, 2012) amounted to UAH 91,675.3 million.

Before the entry into force of this law, the fund paid refunds to depositors totaling UAH 4,686.4 million.

Until 2012, the fund reimbursed the guaranteed amount to depositors of insolvent banks, while the NBU carried out temporary administration and liquidation.

Thus, since the beginning of the foundation of the fund, the amount of payments of guaranteed compensation has amounted to UAH 96,361.7 million.

As Ukrainian News Agency earlier reported, the Deposit Guarantee Fund resumed the sale of liquidated bank assets.