State-owned PrivatBank (Kyiv) offers professional market participants through the OpenMarket platform (SE SETAM) to purchase at a Dutch auction (with a price reduction) the rights to claim a loan portfolio of more than 80 thousand consumer loans at a starting price of UAH 501.4 million.
“This portfolio includes more than 80 thousand unsecured consumer loans granted to individuals, which were recognized as uncollectible and written off against provisions. The portfolio for sale excludes loans for which the debtors are mobilized servicemen – according to information available to PrivatBank,” the press service of the state bank informs.
It is noted that the rights of claim on such a portfolio include only the loan principal and accrued interest.
The sale will be carried out by gradually reducing the starting price of the lot, while the minimum selling price, according to the published terms, is 2.1% of the initial price – UAH 10.53 million.
According to the state bank, only financial institutions that have a valid license to lend money or provide factoring services and meet the bank’s requirements will be allowed to participate in the auction. Applications for participation can be submitted until February 2, and the auction itself will take place on the 23rd of the same month.
According to the National Bank of Ukraine, as of November 1, 2023, PrivatBank ranked 1st in terms of assets (UAH 804.14 billion) among 63 banks operating in the country, and 2nd in terms of the number of branches (1131).
