Oleksandr Yanukovych's VBR Bank may be acquired by Ecosipan.

vbr

Ecosipan, the owner of Mykhailovskiy Bank, intends to acquire 100% of the shares of the insolvent All-Ukrainian Development Bank (VBR), which is owned by Oleksandr Yanukovych. This was reported by Ukrainian News, citing a company statement.

 

Specifically, it is known that Ecosipan intends to acquire 100% of the authorized capital, which amounts to 722 common shares of VBR. Ecosipan owns 100% of the shares of Mikhailovsky Bank. Ecosipan is controlled by individuals, each holding less than 10% of the company's shares.

 

As a reminder, a temporary administration was appointed to the VBR on November 28, 2014. Therefore, the temporary administration expires on February 28.

 

In 2014, the All-Ukrainian Development Bank (AUDB) posted a loss of UAH 72,758,000, compared to a profit of UAH 29,756,000 in 2013. AUDB's assets decreased by 13,8% to UAH 5,635,000, its loan portfolio by 24% to UAH 2,939,000, and its equity by 9% to UAH 733,900,000.

 

The Deposit Guarantee Fund for Individuals began paying out depositors of the troubled bank on February 2, 2015.

 

At the beginning of 2014, VBR belonged to the second group of banks (large), ranking 34th by assets according to the NBU classification. Oleksandr Yanukovych owns 100% of the financial institution's shares.

 

 

SKELET-info

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