Kyiv-based government-controlled Ukrgasbank has successfully completed the financial recovery procedure, which lasted for almost eight years, the Ukrainian Finance Ministry has reported on Facebook.
On May 31, the bank repaid the remaining debt in full and ahead of schedule on long-term refinancing and stabilization loans extended by the National Bank of Ukraine (NBU) in 2008-2009.
As was reported, Ukrgasbank's debts to the NBU as of January 1, 2016, were estimated at UAH 3.617 billion. Ukrgasbank on May 31 repaid all its loan debts to the NBU.
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Ukrgasbank was founded in 1993. By January 2016, the state owned 94.9409% of its shares.
The bank ranked third in terms of assets worth UAH 48.903 billion in the group of banks with state stakes among 109 operating banks as of April 1, 2016.