ARMA has selected a bank to hold the seized funds.

The Asset Recovery and Management Agency (ARMA) has selected the winner of its competitive selection for a bank to hold seized funds. The chosen bank is the state-owned Sens Bank, which offered the most favorable terms for demand deposits.

This was reported by ARMA's press service. 

Currently, organizational measures are underway to finalize the corresponding agreement with the state bank. In the first phase, the Agency plans to deposit over 2 billion UAH of seized funds, including foreign currency assets.

Almost 8 billion UAH of confiscated money is currently held by ARMA in military bonds. These funds are directed specifically to meet the needs of the Armed Forces of Ukraine and other defense units.​​​​​​​​​​​​​​​​

Background. Earlier, Mind reported that ARMA found a manager for the Gulliver shopping mall in Kyiv. The LLC "BC Millennium" offered the best terms for the state.