Oschadbank raises UAH 3 bln refinancing loan from NBU
State-owned Oschadbank (Kyiv) after a tender to support short-term liquidity of banks on November 15, 2017 raised UAH 3 billion from the National Bank of Ukraine (NBU) for 84 days at 15.5% per annum using government domestic loan bonds as collateral, the press service of Oschadbank has told Interfax-Ukraine.
The press service said that the necessity of raising the refinancing loan is linked to the large volume of transactions to credit large corporate clients of the real economic sector.
"Despite the fact that Oschadbank remains one of the leaders in the growth of the term resource base in the national currency, which for the first nine months of this year increased by UAH 7.7 billion, the volume of hryvnia liquidity is insufficient to fully cover the needs of clients for lending. This refinancing is fundamentally different from what the banks attracted in large amounts earlier during the crisis. In particular, it is about diversifying the sources of financing. Taking into account the unbiased trend to increase interest rates on the market, the bank uses a market-based approach to the management of its liquidity, while maintaining efficiency," the press service said.
Oschadbank was founded in 1991. Its only owner is the state.
Oschadbank ranked second among 88 banks operating in the country on July 1, 2017 in terms of total assets (UAH 220.723 billion), according to the National Bank of Ukraine.