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Ukraine's State Land Bank to be liquidated

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Ukraine's State Land Bank to be liquidated

TheUkrainian Deposit Guarantee Fund asked the National Bank of Ukraine to cancel 's license andlaunch liquidation proceedings.

Afterplacing the lender into provisional administration in July, the fund launched a competitionto select an investor to purchase it, with the minimum asking price set at 155million Ukrainian hryvni, based on the total value of shares.Five investors expressed an interest, but only one of them was cleared by thecentral bank to participate in the tender and no bids were filed by the Sept.19 deadline.

StateLand Bank did not hold any household deposits. Ukrainian media outlets reportedin February that Ukraine's government planned to liquidate or sell the lender as part ofefforts to reform state-owned banks.

As of Sept. 23, US$1 wasequivalent to 25.98 Ukrainian hryvni.