Deposit Guarantee Fund wins first class action lawsuit against Russia
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The Deposit Guarantee Fund has won the first class action lawsuit against Russia for losses incurred by banks being withdrawn from the market. About said the DGF press service.

On July 17, the Kyiv Commercial Court fully satisfied the Fund's claim against the aggressor country for a total of UAH 498.5 million. This is a class action lawsuit in which five banks were merged: Green Bank, Erde Bank, Ukrgasprombank, Tavrika Bank and Fortuna Bank.

The assets of these banks, such as some real estate and loan portfolios (mainly collateral and/or borrowers at the place of registration), are located in the territories of Donetsk and Luhansk oblasts occupied by Russia in 2014. As a result, the banks lost the ability to dispose of this property.

"We are using all available means of legal pressure on the aggressor country and forming judicial practice where it is still lacking," said Olga Bilay, Managing Director of the Foundation.

The Foundation's position is that absolutely all losses caused by the occupiers must be recorded, confirmed by court decisions, and a mechanism for their compensation must be developed.

In total, the DGF preliminarily estimates the losses of banks from Russia's actions from 2014 to the beginning of the full-scale invasion at UAH 84 billion.

"Lawsuits will be filed against them, and the court decisions will allow us to raise the issue of recovering damages from Russia in the international arena," emphasized Bilay.

Today, the courts are considering two more lawsuits filed by the Fund against Russia over the banks' losses before the outbreak of the full-scale war.

The claim against the aggressor country in the amount of UAH 651 million in the case of PJSC CB Promekonombank was recently transferred by the Supreme Court to the court of first instance for a new trial.

Another class action lawsuit, which combines the losses of Kyivska Rus, Activ-Bank, Energobank, and Petrocommerce-Ukraine Bank for more than UAH 920 million, was filed by the Fund in May 2025.