September 10, 2025
PRESS RELEASE
On September 10, 2025, the DGF celebrates its 27th anniversary. The DGF was established pursuant to the Decree of the President of Ukraine “On Measures to Protect the Rights of Individual Depositors of Commercial Banks” dated September 10, 1998. During all these years the DGF has been protecting banks’ depositors, enhancing public confidence in the financial system of Ukraine.
“As a key link of the national financial safety net, the DGF ensures the stability of the banking system, even during the most difficult times. Despite challenges posed by the war, the DGF has managed to preserve its ability to fulfill its obligations effectively and develop a deposit guarantee system that aligns with Ukraine’s European integration intentions and agreements with the IMF. Specifically, the DGF participates in the development of legislative norms aimed at broader application of resolution tools. These will allow banks to remain on the market, guarantee funds for business and credit unions, establish European guarantees for deposits up to EUR 100.000 following the cancellation of war time 100% guarantees. They will also accelerate the start of payout. These positive changes relate to every consumer of financial services in Ukraine and bring us closer to EU”, emphasized Olga Bilai, Managing Director of the DGF.
The 27th year was a defining one for the DGF in many ways. Notably, during this year:
- The confidence of the Ukrainians in banks reached the record 68% with deposit guarantees aenhancing it. The DGF provides uninterrupted and full payments of 100% guaranteed reimbursement . The blanket guarantee was introduced by the Law of Ukraine No. 2180-IX of April 1, 2022, for the the duration of martial law and three months from the date of termination of martial law. During the years of full-scale war, the DGF paid out more than UAH 9 billion to bank depositors, of which more than UAH 8 billion was disbursed to depositors of the banks covered by 100% guarantees. According to a nationwide representative survey, the Ukrainians’ confidence in banks increased during the three years of the full-scale war, rising from 56% (on the eve of a full-scale invasion) to 68%. The total value of retail deposits in Ukrainian banks continues to grow, increasing from UAH 1.3 trillion as of August 1, 2024, to a record UAH 1.5 trillion as of August 1, 2025.
The DGF successfully implemented the resolution plan for JSC "COMINVESTBANK”. The part of assets and liabilities of the failed JSC "COMINVESTBANK” were transferred to the JSC “ASVIO BANK” enabling costs associated with the resolution to be minimised and existing agreements with clients to be preserved. JSC “COMINVESTBANK” is the 11th bank to be resolved by the DGF in a manner other than complete liquidation. As of today, sale of the assets of JSC “COMINVESTBANK”, which were not included to the agreement with the assuming bank, is being successfully held. In particular, the DGF conducted auctions for the sale of the bank’s assets worth more than UAH 21 million, which were transferred to settle accounts with the creditors. Implementation of the agreement on the transfer of part of the assets and liabilities to JSC “ASVIO BANK”, as well as successful sale of the bank’s assets, ensured the settlement of the 80% of the claims of the business clients just 6 months after the start of liquidation procedure.
- The DGF transferred UAH 7.9 billion to the state. The funds were transferred to the state budget, in accordance with the DGF’s restructured obligations remaining after the 2014-2017 crisis in Ukraine. As it is well known, during the 2014-2017 crisis, when the NBU recognised more than 90 banks (almost half of the banking system at the time) as insolvent. The DGF therefore was forced to borrow UAH 80 billion from the NBU and the Ministry of Finance at market interest rates, in order to pay out the guaranteed reimbursement. In 2019, the DGF fully repaid its obligations to the NBU in the amount of UAH 25.6 billion, of which UAH 5.5 billion was interest, and partially settled accounts with the Ministry of Finance (including early repayment) in the amount of UAH 21.7 billion, of which UAH 7.9 billion was interest. The balance of the loan to the Ministry of Finance was restructured. By transferring funds to the state budget, the DGF supports the state's defence capability. In addition, on the eve of its 27th anniversary, the DGF has fully implemented the decision of the National Security and Defense Council of Ukraine to return the funds of the former Russian-owned bank PJSC “PROMINVESTBANK” to Ukraine, releasing approximately $44 million from foreign blocking sanctions. The DGF managed to prove the fact that these funds belong to Ukraine and transfer them to the state budget.
The DGF’s loan restructuring programmes have proven to be successful. Thanks to these programmes, since 2022, debtors of banks managed by DGF repaid UAH 1,292.36 million, of which UAH 870.85 million came from business entities. In addition, the DGF ensured the recovery from all other sources, in order to settle creditors’ claims: during 2025, banks undergoing liquidation by the DGF received UAH 2,556.5 million from loan repayments, income from securities, the sale of assets, property rentals, and so on. Thanks to these revenues, the amount settled with the banks' creditors exceeded UAH 18 billion since Russia's full-scale invasion began.
- The DGF is actively pursuing legal actions against russia. As of today, the DGF has filed five lawsuits against russia in Ukrainian courts. The DGF has already won two of them: a lawsuit regarding losses against Donetsk bank PJSC “CB “UFW” in the amount of UAH 1.9 billion and a class action lawsuit regarding losses against PJSC “GRIN BANK”, JSC “BANK TAVRIKA”, JSC “ERDE BANK”, PJSC “UKRGASPROMBANK” and JSC “FORTUNA BANK” worth UAH 498 million. The court decisions were forwarded to the executive service and may be enforced in the foreign jurisdictions at the expense of the aggressor country’s seized assets. Three more lawsuits against Russia are pending in the first-instance courts now: a claim for demages against PJSC “CB “PROMEKONOMBANK” worth UAH 651 million, a class action claim against PJSC “KYIVSKA RUS BANK”, PJSC “CB “AKTIV-BANK”, PJSC “ENERGOBANK” and PJSC “BANK PETROKOMMERS-UKRAINE” worth over UAH 920 million, and a claim for damages against PJSC “CB “PIVDENKOMBANK” worth over UAH 2.8 billion.
The DGF has confirmed that it is compliant with the international standards for its anti-corruption management system, as set out in ISO 37001:2016. This demonstrates to an international audience that the DGF is sincere in its commitment to zero tolerance of corruption and has effective, constantly improving mechanisms for preventing and combating it.
The DGF continues to fulfill its obligations successfully and sets itself new goals!