NBU head hopes Zhevaho will solve major problems of Bank Finance & Credit by late summer

17:27, 15.07.2015 1 min read

The main shareholder of Bank Finance and Credit, MP Kostiantyn Zhevaho, has undertaken a commitment to convert UAH 1.5 billion of the deposits of large businesses and individuals into capital, as well as to repay UAH 4 billion of loans issued to insiders which should stabilize the situation at the bank, Head of the National Bank of Ukraine Valeriya Gontareva has said.

"In the near future... Closer to the end of summer," she said when asked about how long it will take to stabilize the situation in the bank.

Gontareva added that, according to the NBU, Zhevaho has the resources to fulfill these promises, noting that he has invested UAH 2 billion of "real money" in the bank capital.

"The main objective [of the shareholder] is to restructure all of his obligations. If he succeeds, the bank will live, if not, then it has only one fate – the Individuals' Deposit Guarantee Fund," Gontareva said.