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Automatically translated version. May contain inaccuracies compared to the original.
The Northern Commercial Court of Appeal denied QUICKOM LIMITED—the beneficial owner of which is the former owner of VAB Bank and Financial Initiative, Oleg Bakhmatiuk—request to terminate his guarantee for refinancing loans. The total amount of debt that the NBU is recovering from the businessman as guarantor is about 7,9 billion UAH.
As Dilo reports, this was announced by the NBU press service.
NBU continues recovery from Bakhmatiuk
The National Bank continues to recover debts on refinancing loans that were granted to insolvent banks. In particular, courts confirm the legitimacy of the NBU’s claims against the former owner of VAB Bank and Financial Initiative, Oleg Bakhmatiuk, as guarantor.
On 9 September 2026, the Northern Commercial Court of Appeal dismissed the appeal of QUICKOM LIMITED (Cyprus) and left the first-instance court’s decision unchanged. That decision denied the termination of Bakhmatiuk’s guarantee for VAB Bank’s loans and confirmed the NBU’s claims as creditor.
Earlier, the appellate court issued a similar decision regarding Financial Initiative—QUICKOM LIMITED was also denied in appealing the first-instance decision on terminating Bakhmatiuk’s guarantee for that bank’s loans.
The ultimate beneficial owner of QUICKOM LIMITED is Oleg Bakhmatiuk, who previously owned VAB Bank and Financial Initiative.
According to the NBU, the total amount of debt that the regulator is recovering from Bakhmatiuk as guarantor for the obligations of the two insolvent banks is about 7,9 billion UAH. This concerns seven main court cases.
The NBU notes that the debtor and related parties regularly challenge the loan agreements, the guarantee, and other grounds for debt recovery. In particular, QUICKOM LIMITED attempted in eight lawsuits to have the loan agreements—performance of which was secured by the guarantee—terminated. All these cases ended in favor of the National Bank.
Bakhmatiuk versus the NBU
In 2014, VAB Bank PJSC concluded a stabilization loan agreement with the NBU for 1,2 billion UAH. Oleg Bakhmatiuk guaranteed the bank’s repayment of the loan funds and entered into a guarantee agreement with the regulator, assuming personal obligations to repay the financial institution’s debt to the NBU.
The bank did not fulfill its obligations to the NBU, nor did its owner. Therefore, the regulator filed a lawsuit with the Pechersky District Court of Kyiv to recover the debt from Oleg Bakhmatiuk.
On 30 January 2025, the Pechersky District Court of Kyiv satisfied the regulator’s claim against Bakhmatiuk and recovered 1,2 billion UAH from him in favor of the NBU.
The NBU Board classified VAB Bank PJSC as insolvent on 20 November 2014, and on 19 March 2015 decided to revoke the bank’s license and liquidate the bank. The bank remains in liquidation to this day.
Currently, five more cases brought by the NBU against Oleg Bakhmatiuk for debts of VAB Bank PJSC and KB Financial Initiative PJSC remain under consideration at the Pechersky District Court of Kyiv.
The total amount of debt that the NBU is recovering from Bakhmatiuk in court is about 7,9 billion UAH.
Recall that on 22 January 2025 the Supreme Court confirmed the legality of prior court decisions to recover 1,8 billion UAH of debt from the former owner of Financial Initiative, Bakhmatiuk.
Document: PDF proof of the original version of the news item "НБУ стягує з Бахматюка 7,9 млрд грн: суд відмовив у припиненні поруки". It records the publication content at the moment of the first scan, the preservation date and the source: Delo.ua.
