In Ukraine, four banks may be sold at once: PINbank, «Motor-bank», «Avangard», and «Lviv»

In Ukraine, four banks may be sold at once: PINbank, «Motor-bank», «Avangard», and «Lviv»

In Ukraine, four banks may be sold in the near future. Despite the war, high taxes, and restrictions on dividend withdrawals, investors are actively interested in financial institutions.

The Deposit Guarantee Fund is preparing to sell two failed banks — PINbank and «Motor-bank». PINbank previously belonged to Russian oligarch Yevgeniy Giner, while «Motor-bank» belonged to the former head of «Motor Sich» Vyacheslav Bohuslayev. The state nationalized both institutions and removed them from the market due to capital problems. Preliminary estimates value PINbank at 100–150 million UAH, and «Motor-bank» at approximately 170 million UAH.

There is already interest in these banks: several banks, financial companies, and investors have submitted applications. In total, about 11 potential buyers have expressed interest in purchasing. They also plan to sell «Avangard» bank. The National Bank obliged the ICU owners Makar Pasenyuk and Kostyantyn Stetsenko to find a new buyer due to claims against their business reputation. The bank has assets exceeding 2.2 billion UAH and capital of about 361 million UAH.

Another deal has already been announced — the French «Crédit Agricole» plans to buy «Lviv» bank. «Lviv» bank has assets exceeding 18 billion UAH, and net profit for the past year of about 325 million UAH. The French group wants to strengthen its presence in the western regions and expand work with small and medium-sized businesses, particularly in the agricultural sector.

Experts say that interest in banks is growing due to relatively low prices. Large financial groups are trying to expand by buying smaller banks and their customer base.