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Kommersant: IFC is considering options for working with problem assets of Ukrainian banks

Jul 30th, 2009 | By admin | Category: Main News

International Finance Corporation (IFC) is considering options for working with problem assets of Ukrainian banks. In particular, it may be a special fund for the redemption of debt or financing scheme developed through the management company. Bankers note that starting at this time - the debt problem in the retail sector by the end of the year could reach 70 billion UAH, and banks are ready to give loans at a discount sunk 10-40% of the cost.

reported today writes edition Kommersant-Ukraine.

About IFC

interest to troubled assets of banks became aware of the messages participants Association Collection of Ukraine (AKBU), which yesterday said that in negotiations on this issue with the corporation.

head of the IFC in Ukraine Elena Voloshin said that really held a meeting with collectors in this regard. IFC is helping the Ukrainian banking sector in working with problem assets, is already in force consulting part of the program. We have the expertise of finance companies to manage critical assets in Ukraine, we are considering the possibility of funding such structures. It can be employed, and the newly created company , - she said. No concrete steps in this direction, according to Voloshin, yet premature to speak.

same direction IFC is already working in Russia. Until the end of this year, IFC intends to invest in the buyout of problem assets of Russian banks have about U.S. $ 100 million Funds would be distributed through a number of local asset management companies. Total volume of investments in corporations problematic assets of Russian banks will be 1 billion dollars

In

AKBU argue that, in consultation with the IFC considered another version of the work: the creation of a special fund to be funded by corporations and other participants in the project. The projected AKBU, the total portfolio of troubled banks in the area of consumer credit by the end of the year exceeds 70 billion UAH - about 34%.

Now the banks pass on the debt collection services to companies of 11% of problem loans - about 5 billion UAH. According to market participants, is the average discount, which the banks sell their problem loans, representing 10-40% of their value.


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