Financial sector news

In August 2025, the volume of revenues to banks undergoing liquidation under the management of the Deposit Guarantee Fund reached a record high of UAH 1.9 billion. Of this amount, UAH 1.835 billion came from the correspondent accounts of Prominvestbank JSC.

The Guarantee Fund proved in court and under international law that the funds placed in Prominvestbank's correspondent accounts belonged to the state of Ukraine. As a result, it was possible to lift the sanctions block and return approximately USD 44 million, which was subsequently transferred to the state budget in accordance with the decision of the National Security and Defense Council.

In addition, in August, liquidated banks received UAH 34.7 million from loan repayments, UAH 16.8 million from the sale of assets, UAH 5.5 million from income on securities, and UAH 2.6 million from property rentals.

In total, since the beginning of 2025, banks liquidated by the Deposit Guarantee Fund have received more than UAH 4.3 billion in revenues.

As a reminder, Prominvestbank was sent into liquidation by the National Bank on February 25, 2022, along with the International Reserve Bank, the former Ukrainian subsidiary of Sberbank of Russia. Following the NSDC's decision to forcibly seize the shares of these institutions, the Guarantee Fund replaced the Russian structures in the register of creditors with the state of Ukraine. During the liquidation, it was discovered that Prominvestbank's correspondent account at The Bank of New York Mellon held more than €36.6 million and $2 million, which were frozen in 2022 due to US sanctions against the Russian state corporation VEB.RF.

The return of these funds set an important precedent in restoring state control over assets belonging to financial institutions subject to sanctions.