The National Bank of Ukraine (NBU) injected UAH 750 million into Zhevago Finance and Credit.

Konstantin Zhevago

Konstantin Zhevago

The National Bank of Ukraine (NBU) has provided Finance and Credit, the bank of People's Deputy Zhevago, with a stabilization loan of 750 million hryvnias.

 

According to a statement from Zhevago Bank's press service, the NBU decided to assist the financial institution on June 10. The regulator, in turn, stated that it made this decision due to the bank's shareholders taking active steps to save it, as well as the significant role Finance and Credit plays in the Ukrainian banking market. It was also reported that Finance and Credit Bank's shareholders increased their authorized capital by UAH 1,1 billion and promised to inject approximately UAH 2 billion into the financial institution by the end of June 2015.

 

It also became known that the NBU took financial guarantee and real estate of Konstantin Zhevago as collateral for the issued funds.

 

As a reminder, Finance and Credit, the bank of Member of Parliament Kostiantyn Zhevago, is among the top 10 Ukrainian banks by assets. It accounts for 2,7% of all Ukrainian bank assets and 4% of all retail deposits.

 

But experts say Finance and Credit Bank is "lucky" to be receiving assistance from the NBU. The NBU had previously declared two of Ukraine's largest banks, Delta Bank and Nadra Bank, insolvent and announced their liquidation.

 

 

SKELET-info

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