The estimated amount of unaccounted losses of the insolvent Delta Bank (Kyiv) is UAH 42.1 bln, as it is evidenced by the results of the comprehensive analysis of the financial institution, conducted by Ernst&Young, Finance.UA reports.
The short report, which is posted on the site of the Individuals’ Deposit Insurance Fund, provides that the losses were found for the analyzed period; however, its time period is to be confirmed.
In addition, EY reports that the amount of losses was estimated on the basis of the selective analysis and cannot be accepted as the gross loss of the bank.
The company also provided the list of losses, which it did not manage to quantify. This includes the losses on the loans, disbursed under the rates, lower than market ones, the losses on the funds, placed under the rates, lower than the annual average rate of the National Bank of Ukraine, on the single limits, which exceed the limits, recommended by the Risk Management Department, the losses, based on the difference in rates on swap transactions, the losses, resulted from the payment of interests on the Vostro accounts/standalone deposit accounts under the rates, exceeding average ones.
Delta Bank was founded in 2006. Nikolai Lagun (70.6059%) and Cargill Financial Services International, Inc. (29.3941%). were its largest shareholders as of the beginning of 2015. On October 2, 2015, at the suggestion of IDIF, NBU passed the decision on the revocation of the banking license and the liquidation of Delta Bank (the liquidation is extended until October 2019).