The National Bank of Ukraine (NBU) has provided a new stabilization credit of Hr 800 million to the largest bank in the country – PrivatBank (Dnipropetrovsk), NBU said on its website.
“NBU has decided (board resolution No. 202/BT of March 27, 2015) to support liquidity of PrivatBank and provide a new stabilization credit (Hr 800 million) so that PrivatBank is able to fulfill its liabilities to depositors-individuals on time,” reads the report.
According to the report, credit funds are provided for the period of two years.
Aircraft and the guarantee of the holder of a large stake in public joint-stock company PrivatBank were used as collateral for the NBU refinancing credit. An international auditing company appraised the assets used as collateral.
PrivatBank has 26 percent of all deposits of individuals of the banking system and 15 percent of assets of the banking system, while the credit institution is the largest bank in Ukraine and the bank has specialized saving bank status (the share of individuals’ funds is over 50 percent of the bank’s liabilities).
