The Deposit Guarantee Fund for Individuals has made the decision to extend the deadlines for the competitions aimed at resolving the situation with the insolvent banks, JSC “Motor-Bank” and JSC “PIN-Bank”. The changes have been made in light of the active interest from potential investors.
This is reported by Finway
New Deadlines for Submitting Proposals
According to the decisions of the Fund’s executive directorate No. 273 and No. 274, the deadline for accepting competitive proposals from interested investors has been extended to March 24, 2026, inclusive. The announcement of the winners of the open competitions and the review of all proposals will take place by March 31, 2026. Additionally, applications for access to the virtual data room of both banks will be accepted until March 17, 2026, inclusive. This room can be accessed by potential investors and accepting banks.
Increased Investor Interest and Payments to Depositors
According to the Deputy Director of the Fund, Victoria Stepanets, the interest in participating in the exit of these banks from the market is extremely high. Already, 11 potential buyers have registered to familiarize themselves with the banks’ assets in the virtual room, and competitive proposals are expected in the next stage. She also noted an increase in the number of investors eager to develop business in Ukraine, including international ones.
“The interest in participating in the exit of these banks is very high. Eleven potential buyers have submitted requests to familiarize themselves with the banks’ assets in the virtual room, and we expect competitive proposals in the next stage. Despite the challenges of war, we are observing a positive trend: year after year, more potential investors are showing interest in banks exiting the market. These are not only Ukrainian investors but also international ones looking to develop their business and explore a new market,” emphasized Deputy Director of the Fund, Victoria Stepanets.
The Deposit Guarantee Fund announced open competitions on February 23, 2026, to find optimal ways to exit the insolvent banks from the market. Temporary administration at JSC “First Investment Bank” and JSC “Motor-Bank” was introduced on February 20, 2026, following the relevant decisions of the Board of the National Bank of Ukraine to classify these institutions as insolvent.
As of March 12, 2026, the Deposit Guarantee Fund began payments to depositors of both banks. Funds are being paid out under bank deposit agreements whose validity expired at the end of the day on February 19, 2026, as well as under bank account agreements.
As of the beginning of 2026, according to the National Bank of Ukraine, Motor-Bank ranked 56th in terms of assets (379.2 million UAH), while PIN-Bank ranked 59th (212.7 million UAH) among 60 Ukrainian banks. For the year 2025, Motor-Bank reported losses of 16.3 million UAH, while PIN-Bank reported losses of 63.2 million UAH.
JSC “First Investment Bank” was confiscated by the state from Russian businessman Hiner, while JSC “Motor-Bank” was taken from former pro-Russian politician, ex-MP of the Verkhovna Rada of Ukraine, and head of PJSC “Motor Sich” Vyacheslav Bohuslaev, who was arrested on suspicion of treason.