PRESS: Three large banks want to acquire VTB Ukraine partially

MOSCOW, Dec 13 (PRIME) -- First Ukrainian International Bank owned by Rinat Akhmetov, Alfa-Bank of Alfa Group and TAScombank of Sergei Tigipko are interested in partial acquisition of insolvent VTB Ukraine, affiliate of Russian bank VTB, business daily Kommersant reported on Thursday, citing Ukraine’s Deposit Guarantee Fund.

Alexander Yaretsky, a lawyer, who specializes on the Ukrainian banking legislation, said that assets and liabilities of a bankrupt bank are given away for free, and a contender who asks for the least support to fulfill the liabilities wins.

In November, VTB Bank CEO Andrei Kostin said that the Ukrainian unit was due to redeem about U.S. $100 million worth of deposits to clients, and it was ready to repay them until the end of 2019, but the country’s authorities did not allow that to happen.

End