2022-09-28T18:47:00+03:00 Economy 2024-09-15T06:33:49+03:00

Ukrainian news

Alfa-Bank To Be Nationalized For 1 Hryvnia - Kulyk

Alfa-Bank To Be Nationalized For 1 Hryvnia - Kulyk

On September 23, 2022, Bill No. 8069 was registered in parliament, which has already been called a law on the market that will allow nationalization of the bank for 1 hryvnia. This is stated in the column of the director of the Center for Civil Society Research Vitalii Kulyk on the censor.net. At the same time, the author is convinced that the bill is prescribed for Alfa-Bank.

The document provides that the cost of financial institutions shareholders will be reimbursed after compensation for losses to the state from Russia. Also, at the suggestion of the NBU, the bill proposes to provide the right of the Ministry of Finance to participate in the withdrawal from the market of not just a bank, but a "systemically important bank" only "on the grounds that occurred during the military aggression of Russia against Ukraine." In addition, the nationalization of a systemically important bank, although it will be through the procedure of classifying the bank as insolvent, will not require recapitalization by the state - the sale of the bank for 1 hryvnia will be carried out regardless of the actual size of the bank's regulatory capital on the day of the NBU's decision.

During the procedure for the withdrawal of an insolvent systemically important bank from the market with the participation of the state, the Deposit Guarantee Fund "appoints, on the proposal of the Ministry of Finance of Ukraine, agreed with the National Bank of Ukraine, bank managers who begin to perform their duties from the moment of termination of the temporary administration by the Fund" in order to break the old management chains and ensure control over all operations in the Bank.

In accordance with the provisions of this Law, the Guarantee Fund, which takes over the functions of managing the bank, will check the ultimate beneficiaries of all depositors and creditors, as well as the sources of origin of funds.

According to Kulyk, it is obvious that the bill is prescribed for Alfa-Bank. After all, among the system banks in the country there are 4 state, 4 banks with European capital and 5 with Ukrainian capital. All these banks are either operationally profitable, or with a good liquidity margin, or compensation for losses only after compensation from Russia is not logical (banks are European capital). It is likely that the project is prescribed for Alfa-Bank, the only systemically important bank with Russian capital. Recall that earlier the media have already reported on financial problems in the bank.