Kolomoisky’s structures were written off 6 billion “bad” loans in Privatbank
The state-owned Privatbank wrote off 5,56 billion hryvnia of loans that were issued before nationalization to the structures of the oligarch Igor Kolomoisky, a PolitNavigator correspondent reports.
It is reported specialized Kiev publication Finbalance.
According to PrivatBank’s reporting, it separately identifies a group of non-performing loans that were issued before December 19, 2016, that is, before nationalization.
“In the opinion of management, this portfolio has similar credit risk profiles, regardless of industry classification and line of business at the date of issuance of such loans,” the document says.
Privatbank notes that as of December 31, 2017, the volume of these loans amounted to UAH 185,6 billion, which is UAH 5,56 billion less than at the end of 2016 (UAH 191,14 billion), and the formed reserve for them was 181,9 billion UAH (at the end of 2016 - 169,15 billion UAH).
In fact, the real value of the portfolio is estimated to be only 2%.
At the same time, Privatbank provides data that, due to the reserve in 2017, it wrote off as bad loans and advances to customers in the amount of UAH 5,86 billion.
Last year's contributions to the loan impairment reserve for this portfolio amounted to UAH 17,3 billion. By the end of 2017, the bank assessed the received real estate as a settlement of overdue loans in the amount of UAH 11,27 billion, while at the end of 2016 - UAH 21,84 billion.
As reported, detectives from the private agency Kroll, after a forensic audit of the bank, which covered 10 years of the bank’s activities, came to the conclusion that the damage caused to Privatbank as a result of fraudulent actions in favor of ex-shareholders reaches $5,5 billion.
The plaintiff obtained that the court, as an interim measure, issued an order for the worldwide seizure of the assets of the ex-owners of the bank Kolomoisky and Bogolyubov and these six companies in the amount of more than $2,5 billion.
In December 2016, the government of Ukraine, at the proposal of the National Bank and the shareholders of Privatbank, the largest of whom at that time were Igor Kolomoisky and Gennady Bogolyubov, decided to nationalize this largest financial institution on the Ukrainian market. The state received 100% of its capital, and Privatbank was additionally capitalized in the amount of UAH 116,8 billion.
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