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Tuesday, August 22, 2017

NBU ends supervisory period early

The National Bank of Ukraine was able to emerge from its forced supervisory period ahead of schedule on Thursday.

Director of the General Department of Banking Supervision Alla Shulla attributed the early lifting of the imposed period to the bank and its owners' cooperation in instigating measures to stabilize the bank's finances.

"As a result of these measures, the bank's shareholders managed to sustain the bank by increasing its authorized capital and expanding the bank's funding base," Shulla said. "All these measures enabled the bank not only to improve performance indicators but also to meet its obligations to depositors and other creditors in a timely manner and to repay the loan (loan granted to the bank to preserve its liquidity) to the National Bank before it falls due."

Shulla suggested that other banks in Ukraine should follow suit and adopt measures to stabilize their finances.

Organizations in this story

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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