The Deposit Guarantee Fund of Individuals has commenced the submission of materials to the International Register of Damages for Ukraine. This pertains to the losses incurred by banks exiting the market and their creditors as a result of the full-scale war.
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The Register was established in 2023 to record claims for compensation of damages, losses, or harm caused by Russian military aggression. This represents the initial step towards the further practical implementation of an international compensation mechanism, which will subsequently involve the review and evaluation of claims from affected parties, determination of the value of losses, and the allocation of payments.
The issue of compensating for war-related losses in the banking sector is not new for the Fund: according to preliminary estimates by the DGF, losses inflicted upon banks due to Russia’s actions amounted to UAH 84 billion solely for the period of 2014–2022, and the Fund was already preparing data for submission to the Register through the Ministry of Justice’s mechanism.
The acceptance of applications from legal entities to the Register commenced at the end of April 2026, after which the Fund initiated the transfer of documents concerning the losses of banks that are or have been withdrawn from the market.
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“According to our assessments, the sum of ‘war’ losses for banks being exited from the market by the Fund, during the full-scale war, has reached UAH 17 billion. While hostilities continue, the losses keep increasing. This primarily includes destroyed real estate, other damaged property, but there is also a category of assets such as loans to borrowers registered in currently occupied territories or conflict zones, lost collateral, and so forth,” stated Viktor Novikov, Deputy Director-Manager of the Fund.
Specifically, the DGF has facilitated the submission of materials to the Register concerning the destruction of part of the real estate belonging to PJSC “Prominvestbank,” which was transferred to the state of Ukraine after the full-scale invasion began.
In addition to seeking compensation for losses incurred during the full-scale war, the Deposit Guarantee Fund is also pursuing the recovery from the aggressor country of damages caused by it since 2014. The Fund has already filed a number of lawsuits against the aggressor country for such losses and is currently preparing new ones.
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Source: DGF.