Tihipko allowed to buy Diamantbank

The Deposit Guarantee Fund has satisfied an offer made by TAScombank, owned by ex-head of the National Bank of Ukraine Serhiy Tihipko, to act as an assuming bank for part of the assets and liabilities of insolvent Diamantbank, ex-head of Diamantbank Oleh Khodachuk said. 

"The Deposit Guarantee Fund just has decided on assuming bank on the base of Diamantbank assets. TAS was determined as the assuming bank", he wrote in his Facebook account on Monday evening. 

According to Khodachuk, the volume of assets that is transferred will allow to fully compensate the entire amount of deposits of up to UAH 200 thousand. He noted at the time of temporary administration introduction this amount was UAH 1.24 billion.

"But the most important news for depositors with the deposits exceeding UAH 200,000 is that the fund has kept the overall amount of cash that was on the accounts and in the cash department of the bank! At the time of administration introduction the figure stood at almost UAH 600 million," Khodachuk added.

He thinks that even in case of liquidation, the DGF will spend up to UAH 150 million for different purposes not related to deposit compensation. The resy sum shall be enough to cover most of deposits exceeding UAH 200 thousand. 

Khodachuk added that many high quality assets are subject to liquidation proceedings like real estate in the centre of Kyiv, business-centres, recreation centres, loans. These assets weren't included into TAS's offer. The bank could be not allowed to offer volume exceeding guaranteed amount or the Fund's evaluation was higher thenthan the one of TAS," he explained why he thinks the value of assets is about UAH 1 billion. 

On April 24, 2017, the NBU declared Diamantbank as insolvent. According to the NBU, teh bank didn't meet the requirement to minimum regulatory capital adequacy requirement at 5%.