The National Bank of Ukraine announced Friday that it has disbursed an emergency loan of approximately $28 million to PrivatBank in order for it to be able to meet its obligations to depositors.
According to the regulator, the bank houses 26 percent of household deposits in the country and is unique in that it is a specialized savings bank with over 50 percent of its liabilities consisting of private deposits. It also houses 15 percent of the total assets within the Ukrainian banking sector.
This loan is conditional and can only be used to meet individual obligations. It also stipulates that collateral in the form of railway transport vehicles and a guarantee from a qualified holder of bank stock will be held against the refinancing loan. This arrangement was determined by a third-party auditing company.
In February, the bank's shareholders approved an increase in capital to approximately $788 million.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme