The Deposit Guarantee Fund as part of the pre-sale preparations proposed to investors to appraise a pool of credits issued by Delta Bank being under liquidation secured by vegetable oil handling assets on the territory of Illichivsk port.
According to a posting on the fund’s website, claims to 14 credits issued by Delta Bank worth 3.65 billion UAH will be put up for sale in one lot.
The fund said that land parcels, property and vegetable oil production equipment, including 15.77 ha on the territory of the port and property with gross area of over 39,00 square meters, were used to collaterize the credits. A compound fat production complex in Odessa is also used as collateral.
As reported, the executive directorate of the Individuals’ Deposit Guarantee Fund has approved of assets for liquidation for Delta Bank as of January 1, appraised at 29.04 billion UAH, or 33.9% of net assets value (85.55 billion UAH, not taking into account reserves and revaluation).
Credits to individuals are assessed at 11.31 billion UAH (net value is 29.34 billion UAH) and credits to companies – 9.94 billion UAH (net value – 37.83 billion UAH).
Cash in the cash desks of the bank and on the cash account at the National Bank of Ukraine (NBU) totaled over 2.43 billion UAH.
The portfolio of securities was estimated at 2.62 billion UAH with net value of 5.56 billion UAH, fixed assets and non-current assets – 2.66 billion UAH (net value 3.67 billion UAH) and the debt portfolio – 73.15 million UAH (net value – 6.28 billion UAH).
Assets for liquidation also include funds placed in other banks (1.85 million UAH and net value of 187.62 million UAH) and funds on below-line balance accounts (80,000 UAH and net value of 10.86 million UAH).
Temporary administration was introduced to the bank on March 3, 2015 and the decision to liquidate it was made on October 2, 2015.
Delta Bank was founded in 2006. Its largest shareholders in early 2015 were Mykola Lahun (70.6059%) and Cargill Financial Services International, Inc. (29.3941%). (Interfax/Business World Magazine)
