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Ukrainian state-run bank Oschadbank repays in full refinancing loans to National Bank

Ukrainian state-run bank Oschadbank repays in full refinancing loans to National BankOn April 4, Oschadbank paid the remaining UAH 2 billion to National Bank of Ukraine.

This is reported by Interfax-Ukraine citing a press release of Oschadbank.

According to Oschadbank's report, from November 2008 through June 2014, the bank raised refinancing loans for UAH 19.9 billion from the NBU. The funds were sent to finance state-sustained programs accompanied by the bank.

"Under the schedule refinancing loans for UAH 2.5 billion were repaid. The rest of the debt of UAH 17.4 billion was returned early: UAH 3.5 billion in 2015, UAH 11.4 billion in 2016 and UAH 2.5 billion in 2017," the bank said.

Oschadbank Board Chairman Andriy Pyshny said that early payment of the refinancing loans was possible thanks to effective work of the bank on the market where the bank attracted funds of companies and individuals. This allowed the bank to replace the NBU funds with own resource base.

Oschadbank was founded in 1991. Its only owner is the state.

Oschadbank ranked second among 93 banks operating in the country on January 1, 2017, by total assets (UAH 210.099 billion), according to the NBU.
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