The Deposit Guarantee Fund for Individuals has extended the search for potential investors for Profin Bank and Ukoopsoyuz Bank until February 20, 2015. According to the Deposit Guarantee Fund's press service, investors are being offered the following options for withdrawing these banks from the market: selling the financial institution as a whole, alienating all or part of the assets and liabilities to an accepting financial institution, or creating and selling a transition bank to an investor, transferring the assets and liabilities of the troubled bank to it.
In order to participate in the withdrawal of Profin Bank and Ukoopsoyuz Bank from the market, investors are required to agree with the NBU on the acquisition of a significant stake in this financial institution.
As a reminder, temporary administration was introduced at Ukoopsoyuz Joint-Stock Bank on January 23, 2015. Dmitry Kashuta, a leading expert in bank insolvency resolution matters in the department for implementing temporary administration procedures and liquidating the bank insolvency resolution department, has been appointed authorized representative of the Deposit Guarantee Fund for Ukoopsoyuz's temporary administration.
On January 20, Profin Bank appointed Vadim Kravchuk, a leading expert in bank insolvency resolution matters, as head of the temporary administration of the department for implementing the temporary administration procedure and liquidating the bank insolvency resolution department.
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