VAB Bank case: expertise refutes the charges of NABU (documents)
"ДС" received copies of documents from the assessment examination of the mortgaged property provided by VAB Bank as a guarantee for receiving refinancing from the NBU. The examination results proved that the statements of NABU that the value of the actual mortgaged property seemed to be 72.62 million UAH, rather than 1.8 billion UAH declared by VAB Bank were inaccurate.
"The report on the independent retrospective assessment of property generally complies with the requirements of regulatory legal acts on the assessment of property, its methodology, methods, and assessment procedures, taking into account the purpose of the assessment and its validity," the states Odesa Scientific Research Institute of Forensics of the Ministry of Justice of Ukraine. The correctness of the assessment is also confirmed by the Kharkiv Research Institute of Forensics.
The funds provided as part of the refinancing were used for the purposes determined during providing of such refinancing, mainly for payments to depositors during the financial crisis of 2014-2015, when funds were withdrawn from accounts and deposits of Ukrainian banks due to instability. As stated by the National Bank of Ukraine, all funds from refinancing provided by NBU to VAB Bank for 1.2 billion UAH, which is the subject of a NABU investigation, were used for payments to 80,000 depositors within 18 days. On average, the bank paid more than 100 million UAH daily.
According to the NBU expertise, at the time the provisional administration was introduced to the VAB and the "Finansova Initsiativa" banks, the amount of Oleg Bakhmatyuk's companies" debts (including the Ukrlandfarming bond debt) is 7.6 billion UAH. Oleg Bakhmatyuk himself repeatedly offered to return the debt stages in, using the restructuring methods and attracting reputable international auditors, however, he did not receive any response from the NBU.
According to him, at the end of October, he and his agricultural holding Ukrlandfarming sent an official offer to the Guarantee Fund on the phased repayment of 8 billion UAH of debts to VAB Bank and the "Finansova Initsiativa" Bank, as well as on the payment of a 500 million UAH deposit guarantee. "And then 1 billion UAH a year. This offer stands still and I am dedicated to guaranteeing such financing. None of the owners of liquidated or insolvent banks have made such an offer," Oleg Bakhmatyuk stated to Interfax - Ukraine. "
