NBU issues UAH 2.28 mln stabilization loan to PrivatBank

16:43, 25.02.2015 1 min read

The National Bank of Ukraine (NBU) by decree No. 119 dated February 19 has approved the issue of a two-year stabilization loan worth UAH 2.28 billion to PrivatBank (Dnipropetrovsk) to meet its obligations to individual depositors.

"When making the decision, the regulator based [its decision] on the fact that PrivatBank concentrates 26% of individuals' deposits in the banking system and 15% of assets of the banking system, and the credit institution itself is the largest bank in Ukraine and has the status of a specialized savings bank," reads a post on the NBU website.

According to the post, the integrated property complex and a guarantee from the owner of a significant stake in PrivatBank were provided as collateral for the refinancing loan, while a leading international auditing company has evaluated the collateral.

The central bank added that last week it also provided PrivatBank with the next tranche of a stabilization loan worth UAH 309 million, approved by its decision of December 4, 2014.