The NBU Will Collect 7.9 Billion Hryvnia in Debts from Bakhmatyuk
On September 9, 2026, the Northern Commercial Court of Appeals denied QUICKOM LIMITED’s appeal regarding the termination of the guarantee provided by the former owner of VAB Bank and Financial Initiative, Oleg Bakhmatyuk, for refinancing loans.
The court upheld the lower court’s decision, confirming the validity of the National Bank of Ukraine’s claims as a creditor. The total amount of debt that the NBU is seeking to recover from the businessman as a guarantor in seven major court cases is approximately 7.9 billion hryvnias.
According to the regulator, the debtor and his associates regularly challenge the loan agreements and the guarantee. In particular, the Cypriot company QUICKOM LIMITED attempted to have the agreements terminated in eight legal disputes, but all of these cases were resolved in favor of the National Bank. Currently, five more cases based on the NBU’s claims against Bakhmatyuk regarding the debts of both banks remain pending before the Pecherskyi District Court of Kyiv.
Earlier, on January 30, 2025, the Pechersk District Court of Kyiv granted the NBU’s claim to recover 1.2 billion UAH from Bakhmatyuk for a debt related to a stabilization loan for VAB Bank, for which he served as a personal guarantor. In addition, on January 22, 2025, the Supreme Court upheld the legality of collecting 1.8 billion hryvnias from the former owner for the obligations of “Financial Initiative” Bank.
The NBU Board classified VAB Bank as insolvent in November 2014, and in March 2015, it decided to revoke the bank’s license and liquidate it. The financial institution remains in the process of liquidation to this day.
This was reported by the NBU’s press service.
The Civil Cassation Court of the Supreme Court upheld the decisions of the lower courts to collect over 1.2 billion hryvnias from Oleg Bakhmatyuk, the former owner of PJSC “VAB Bank,” in favor of the NBU.
The financial company “Fintonik” was the sole participant in Oschadbank’s auction for the sale of loan claims against the Ukrlandfarming group of companies, which is owned by Oleg Bakhmatyuk.
