PrivatBank receives new UAH 1.22 bln stabilization loan

10:42, 16.04.2015 1 min read

The National Bank of Ukraine (NBU) has provided a new stabilization loan of UAH 1.22 billion to the largest bank in Ukraine – PrivatBank (Dnipropetrovsk) – for a period of two years, NBU said on its website.

NBU said that the decision to support the liquidity of the bank is stipulated in NBU resolution No. 230/BT of April 10.

The funds have been provided to ensure that PrivatBank is able to fulfill its liabilities to depositors-individuals on time.

Aircraft and the guarantee of the holder of a large stake in public joint-stock company PrivatBank were used as collateral of the NBU refinancing credit. An international auditing company appraised the assets used as collateral.

PrivatBank has 27% of all deposits of individuals of the banking system and 15% of assets of the banking system, while the credit institution is the largest bank in Ukraine and the bank has specialized saving bank status (the share of individuals' funds is over 50% of the bank's liabilities).