You're reading: Ukrsotsbank repays early last tranche of National Bank refinancing of Hr 248 million

Ukrsotsbank (Kyiv) in August repaid early the refinancing of the National Bank of Ukraine (NBU), according to a press release from the bank, with reference to financial director Giacomo Volpi.

‘We have no funds from the NBU. The funds that were obtained in spring have been fully repaid, the last tranche of 248 million Hr was closed in August,’ Volpi said.

However, he clarified that Ukrsotsbank had to repay refinancing by February 2015: early repayment became possible thanks to the stabilization of the situation with individuals’ deposits in the bank.

According to the report, last time Ukrsotsbank attracted refinancing from the National Bank in spring 2014 under the repo scheme, fully secured by government bonds.

Ukrsotsbank was founded in 1990. UniCredit Bank Austria AG by July 2014 owned 36.9041 percent in Ukrsotsbank, PJSC Ferrotrade International – 35.5811 percent, UniCredit S.p.A. – 26.479 percent.

According to the National Bank of Ukraine, as of July 1, 2014 in terms of assets Ukrsotsbank ranked sixth (46.444 billion Hr) among the 173 banks operating in the country.