The Russian Deposit Insurance Agency (DIA) will open a sales office in Moscow where it will administer the sale of assets of banks which have come under the control of the agency after their licenses were revoked, the DIA’s general director Yury Isaev told business newspaper Vedomosti.
“We want to sell all our assets faster and more efficiently,” Isaev explains.
“Compared to last year, the percentage of claims by creditors of banks with a revoked license being satisfied has grown, but it is obvious that this trend needs to be supported,” he told the newspaper. As of the end of September, the DIA was in the process of liquidating 345 banks.
“Theoretically, the idea looks good. Maybe it will really help sell some property faster,” First Deputy Chairman of the Board of Sovcombank Sergey Khotimsky told the newspaper. However, good assets are usually withdrawn from banks when the license is revoked, and it is quite difficult to return them, the banker said.
It was reported that the DIA was developing a portal for selling the property of banks during their liquidation and bankruptcy. In addition, the DIA planned to sell assets through the site of one of the largest operators in the asset sales market – the Auction House of the Russian Federation (the company accredited by the Federal Agency for Property Management and the Ministry of Defense).
The property of collapsed banks is represented by claims to borrowers, funds on correspondent accounts with other banks, securities, equipment, movable property (for example, cars and specialized armored vehicles), real estate, office furniture and office equipment, etc.
After the opening of the DIA office, its employees will advise potential buyers – legal entities and individuals and inform them about the start of trading, provide assistance in finding the right lots, explain the trading procedure and prepare additional certificates about the state of the assets, Isaev told Vedomosti.