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Ukrainian state-run PrivatBank seeks to join primary govt domestic loan bond dealer list

Ukrainian state-run PrivatBank seeks to join primary govt domestic loan bond dealer listState-run PrivatBank has filed an application seeking to join the primary government domestic loan bond dealer list, PrivatBank Head Oleksandr Shlapak said.

"PrivatBank hadn't been working in the interbank market over last two years. In January we first placed funds on the interbank market, we buy and sell government domestic loan bonds. Now we have filed an application to become the primary dealer of the Finance Ministry. I am sure that we would be able to stir up this half-dead market," he said in an interview with Ekonomichna Pravda publication.

As reported, Ukraine's Finance Ministry plans to stimulate the development of the hryvnia-pegged government domestic loan bond market in the medium-term outlook to cut the share of state debt pegged to foreign currency, minimize the cost of financing and increase state debt sustainability.

The plans are outlined in the state debt management strategy for 2017-2021 approved by Ukraine's Cabinet of Ministers on February 8, 2017.

At present, primary government domestic loan bond dealers are Ukreximbank, Oschadbank, Ukrgasbank, OTP Bank, Diamantbank, Raiffeisen Bank Aval, FUIB, UkrSibbank, Citibank, Universal Bank, Ukrsotsbank and ING Bank Ukraine (all based in Kyiv).
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