: :inin Kyiv (EET)

Executive Service seizes state-owned Ukrgasbank`s funds

The Ukrainian Justice Ministry`s State Executive Service has seized correspondent accounts of the state-owned Ukrgasbank following a decision by Kyiv`s Economic Court on the recovery of funds in favor of the company Ukrkoncept.

The bank`s press service reported that the bank learnt about the seizure of accounts in an email from the National Bank of Ukraine. The bank did not receive any decision on the opening of enforcement proceedings nor a ruling on the seizure of the debtor`s assets, according to reports. Meanwhile, the Economic Court`s decision has been appealed at the court of cassation.

According to the bank, the actions have been initiated by unscrupulous borrowers, aimed at disrupting the bank`s activities in connection with the repayment of problem debts. However, the bank will continue its work in this direction and will make every effort to avoid causing damage to the state, the press service stated.

It is also reported that the bank has complained to the Ministry of Justice and the State Executive Service. In addition, it has submitted a petition to revoke payment requests based on the decision of the Supreme Economic Court.

”The relevant statements have been sent to law enforcement bodies of Ukraine. We believe that the organizers and perpetrators of these illegal acts will be identified and brought to justice,” the press service said.

UNIAN memo. Public Joint-Stock Company Joint Stock Bank Ukrgasbank (Kyiv) has been operating in the Ukrainian market since 1993 and is one of the largest financial institutions in terms of assets. Following additional capitalization provided by the state in 2009, the bank`s share held by the state, which is represented by the Finance Ministry, currently equals 95%. In 2015, the bank posted nearly UAH 260 million in profit.


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