State postal enterprise Ukrposhta has delayed payments of Hr 23 million to insolvent Delta Bank (Kyiv), the press service of the Individuals' Deposit Guarantee Fund has reported.
“As of March 30, 2015, the amount of funds taken by Ukrposhta from clients that were not sent to Delta Bank totals Hr 23.913 million… The fund asked Ukrposhta to quickly send the funds of individuals which were given by them only with the purpose of transferring them to Delta Bank,” reads the report.
According to the report, Ukrposhta explained its actions by the fact that Delta Bank has funds in the current account of Ukrposhta in the amount enough to fulfill liabilities to the bank and Ukrposhta proposed that the funds are written off the account to fulfill liabilities on the transfer of clients’ funds.
The fund said that under Article 36 of the law on the deposit guarantee system, when temporary administration is introduced at an insolvent bank, the offset of counter claims is not settled, as this could result in the violation of the procedure for settling claims of creditors.
As reported, Ukrposhta sent an open letter to the director of the Individuals’ Deposit Guarantee Fund asking it to prevent the blocking of its funds at Delta Bank.
Delta Bank was founded in 2006. Its largest shareholders in early 2015 were Mykola Lahun (70.6059 percent) and Cargill Financial Services International, Inc. (29.3941 percent).
The Individuals’ Deposit Guarantee Fund extended temporary administration at Delta Bank (Kyiv) until Sept. 2, 2015.
Delta Bank ranked fourth among 158 operating banks on Jan. 1, 2015 by total assets (Hr 60.303 billion), according to the National Bank of Ukraine.
