Ukraine’s PrivatBank repaid its National Bank of Ukraine (NBU) loans well ahead of the repayment schedule and reaffirmed its commitment to transparency and cooperation.
“The bank is actively returning refinancing credits, taking into account the positive pace of the deposit portfolio and stabilization of the situation on the financial market,” said First Deputy PrivatBank Board Chairman Oleh Horokhovsky. The loans were equal to UAH 8 billion in refinancing credits since early 2016.
In addition to the early repayment of loans, PrivatBank reiterated its commitment to full transparency of business practices and partneship with institutions like the NBU, the IMF, and the World Bank. PrivatBank highlighted that it will continue to make payments according to the repayment schedule and, when possible, ahead of schedule, a further demonstration of good faith and cooperation with the NBU.
Founded in 1992, PrivatBank is the leader of the Ukrainian market and Eastern Europe. According to the GFK Ukraine research of banking services for individuals, as of the end of 4Q2015 48.4% of customers of Ukrainian banks used PrivatBank services and more than every third Ukrainian (39.3% of respondents) considered PrivatBank their major bank. The research showed 42.6% of Ukrainian corporations use the services of PrivatBank.