You're reading: Oschadbank gets 20 billion hryvnias in National Bank of Ukraine refinancing in 10 months

State-run Oschadbank of Ukraine received about Hr 20 billion in refinancing from the National Bank of Ukraine (NBU) January through October 2014, Oschadbank Board Chairman Andriy Pyshny said.

“The total sum of the refinancing the bank has received in 2014 already is about Hr 15 billion if taken without the assets [designed to refinance NJSC Naftogaz Ukrainy]. The total sum of refinancing with Naftogaz is about Hr 20 billion,” he told reporters on Friday.

Oschadbank has also formed a portfolio of government domestic loan bonds worth about Hr 16 billion, Pyshny said.

He didn’t disclose the sum of additional capitalization the bank expects after its stress testing, but noted that additional capital is needed in connection with the occupation of Crimea and Donbas.

Pyshny also said that the bank is about to complete the preparation of a claim against Russia in connection with the losses the bank sustained due to the annexation of Crimea.

“The last audits are under way… [We] are well aware who we’re going to deal with, but I hope we’ll win,” he said.