Ukreximbank to sell non-performing loans worth 100 bln hryvni

MOSCOW. Feb 9 (Interfax) - Ukraine's state-owned Export-Import Bank (Ukreximbank), based in Kiev, is going to sell non-performing loans totaling 100 billion hryvni at Dutch auctions (at which prices start high and are dropped successively until a bidder accepts the going price) via the CETAM state-owned enterprise, Ukrainian media said, citing the bank's press service.

The first Dutch auction on the platform of the OpenMarket electronic system of the CETAM enterprise has been set for March 9 and will seek to sell the loans of Cherkassy Food Company LLC, a former leading meat processing enterprise of the Cherkassy region, the press service said.

Other assets that have been transferred to the bank as the guarantees of debtors' fulfillment of their loan obligations and will be put up for sale include industrial and commercial buildings and facilities, unfinished buildings, land plots in the Kiev region, assets of an agricultural company, and plant buildings in the cities of Dnepropetrovsk, Cherkassy and Lutsk.

Ukreximbank was established in 1992 and is solely owned by the state.

According to National Bank of Ukraine data, Ukreximbank was Ukraine's third largest bank by total assets (267.423 billion hryvni) out of Ukraine's 67 banks that operated as of November 1, 2022.