The Asset Recovery and Management Agency (ARMA) has selected the state-owned Sens Bank (Kyiv) through a competitive selection process for the further placement of seized funds, as reported in a press release on the Agency's website.
"Currently, the Agency is undertaking organizational activities to finalize the relevant agreement with the state bank. The first step is to plan the placement of over 2 billion UAH of seized funds, including funds in foreign currency," it states.
It is noted that Sens Bank was chosen due to the most favorable proposed terms for demand deposits.
The press service of ARMA reminded that at present, the Agency holds nearly 8 billion UAH of seized funds in military government bonds.
According to the National Bank of Ukraine (NBU), as of December 1, 2024, Sens Bank ranked 9th among the 62 banks operating at that time (143.56 billion UAH) based on total assets. According to them, the net profit of the financial institution during this period amounted to 3.83 billion UAH.