PrivatBank launches mortgage program for business
PrivatBank (Kyiv) has launched the mortgage lending program for commercial and residential property that will be used in commercial purposes for businessmen and businesses for the period of up to five years.
PrivatBank's press service reported with reference to Head of the small and medium enterprises servicing department Serhiy Kliuyev that the mortgage terms for business provide for payment of up to 75% of the real estate value using borrowed funds.
"For entrepreneurs and small businesses, PrivatBank is ready to finance the purchase of commercial real estate in the amount of UAH 0.5 million (shops, buildings for a warehouse or base), as well as residential real estate for commercial use. In addition, customers can purchase real estate owned by the bank, using borrowed funds," the bank said in a press release.
As reported, the government of Ukraine at the suggestion of the National Bank of Ukraine and the former shareholders of PrivatBank, the largest of whom at that time were Ihor Kolomoisky and Hennadiy Boholiubov, on December 18, 2016 decided to nationalize this largest Ukrainian financial institution.
PrivatBank ranked first among 83 banks operating in the country as of July 1, 2018 in terms of net assets (UAH 265.936 billion), according to the National Bank of Ukraine (NBU).