Bankers about Gontareva’s business: “They are talking about hundreds of millions of hryvnia in unaccounted cash”
Kyiv, February 17 (PolitNavigator, Oleksandr Semenyuta) – Investment Capital of Ukraine (ICU), which belonged to Valeria Gontareva before her appointment to the NBU, is "processing" huge sums of cash. This was reported to RBC-Ukraine by government bond market participants who spoke on condition of anonymity.
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ICU operates in the government bond market as an intermediary. Most government bond transactions are done on an advance payment basis, so playing big requires huge amounts of cash.
According to fund managers, the following scheme works. “Suppose one large bank needs to sell bonds to another financial institution for a couple of billions. There are two options - to do this directly or through a professional intermediary who earns 0,1-0,5% of net profit on the transaction,” said a market representative.
With this scheme, oral agreements between counterparties are implemented through one of the stock exchanges, so that during the audit no questions arise regarding the choice of seller/buyer and the price of bonds. “A private intermediary company in such a transaction always has the opportunity to thank both the seller and the buyer of the securities,” says the treasurer of a medium-sized bank.
According to experts, such mediation is especially popular among the heads of state banks and large financial institutions with foreign capital. No one can say for sure the amount of kickbacks that are redistributed among the participants in the scheme. There is talk of hundreds of millions of hryvnia in unaccounted cash.
It’s curious, but not long ago, banks close to Yanukovych’s “family” appeared at the top of the ranking of Cbonds traders. Last year was not so successful for them; many of them completely left the market thanks to the light hand of the NBU, headed by Valeria Gontareva.
By an “amazing” coincidence, in 2014, the former company of the current head of the NBU rose four positions in the ranking of bond traders. At the same time, the company's market share increased by 2,6 times. In just a year, ICU managed to bypass such players in the government bonds market as Sberbank of Russia, state-owned Ukreximbank and Ukrgasbank, as well as the troubled Delta Bank of Nikolai Lagun.
English version :: Read in English: Bankers on Gontareva's business: "They're talking about hundreds of millions of hryvnias in unaccounted cash"