Deposit Guarantee Fund's debt to NBU 25% down since early 2017
The debt of the Individuals' Deposit Guarantee Fund to the National Bank of Ukraine (NBU) this year narrowed by 25% or UAH 2.3 billion, to UAH 6.8 billion.
The fund said on its website that on October 5, 2017 the fund early paid the loan of UAH 1.3 billion.
According to the report, the active sale of assets of insolvent banks by the fund contributes to the increase of the effective work of the NBU with the fund regarding payment of its debt to the central bank. The fund has received UAH 7.4 billion from banks since early 2017, and UAH 4.9 billion of them was received from insolvent banks via the sale of their assets. In addition, UAH 2.5 billion was regular contributions of operating banks.
"Thanks to retaining of revenues and the large reduction in spending the fund has a chance to accumulate funds and first since 2014 not only pay to depositors of insolvent banks, but also early pay own loans," Director of the financial department of the Deposit Guarantee Fund Olena Nuzhenko said.