PrivatBank repays UAH 1 bln of refinancing loans

11:56, 31.05.2018 1 min read

The largest state-owned bank in Ukraine – PrivatBank- on May 30 paid UAH 1 billion of refinancing loans to the National Bank of Ukraine (NBU) in line with the schedule, the bank has reported.

According to the report, the bank also paid UAH 137 million of interest for the use of the funds provided by the regulator.

First Deputy Board Chairperson Halyna Pakhachuk said that as of May 30, 2018, the bank paid UAH 41.8 billion of the NBU's refinancing loans received before the nationalization of the bank in 2016. The bank also paid UAH 14.8 billion of interest.

As reported, nationalized late 2016 PrivatBank in 2017 reduced the consolidated loss to UAH 23.99 billion from UAH 176.64 billion a year earlier.

PrivatBank should make profit in 2018 and generate no less than UAH 8 billion of profit starting from 2020, according to the strategy for its development until 2022 approved by the supervisory board of the financial institution.