The National Bank of Ukraine (NBU) announced Friday that it will extend a loan of approximately $15.8 million to stabilize Bank Credit DNEPR.
NBU states the loan, which has a maturity of two years, will aid the bank in being able to fulfill obligations to depositors and to strengthen overall liquidity.
"Only solvent banks with high-quality loan books that comply with applicable legal requirements, have approved capitalization plans, efficient management, and enjoy financial support from shareholders can qualify for refinancing loans from the National Bank of Ukraine," NBU First Deputy Governor Oleksandr Pysaruk said. "All loans are granted against eligible, high-quality collateral estimated at fair value. Bank Credit DNEPR meets these requirements and enjoys substantial financial support from its shareholders, which makes it eligible for a loan from the regulator."
In line with NBU practices, the bank's real estate and property will be held as collateral for repayment purposes.