Photo from UNIAN
The National Bank of Ukraine (NBU) on December 19 provided the nationalized PrivatBank with a refinancing loan of UAH 15 billion, the press service of the regulator reported.
"In order to support liquidity, ensure uninterrupted customer service, operation of branches and ATMs, and timely payment, the National Bank of Ukraine has provided PrivatBank with a refinancing loan of UAH 15 billion," the report reads.
Read alsoFinance Ministry to issue bonds worth UAH 117 bln for PrivatBank recapitalizationAccording to the report, the refinancing loan is granted at a rate of 16% per annum for the period until December 30.
As UNIAN reported earlier, the Cabinet of Ministers at its extraordinary meeting on Sunday, December 18, decided to transfer PrivatBank to 100% state ownership. The decision was made based on the results of the meeting of the National Security and Defense Council on the proposal of the National Bank of Ukraine.
Read alsoPrivatBank nationalization: Finance Minister tells media, how much money to be injected into financial institutionMinister of Finance Oleksandr Danyliuk pointed out that PrivatBank would continue its operations as usual, and the new management team would be formed in the coming days. At the same time, he noted that the bank's capital increase would take place in several stages. The maximum amount of capital increase will be UAH 148 billion, while the minimum amount will be no less than UAH 116 billion.
Read alsoBanking system stable, PrivatBank nationalization poses no threat – NBUAlso, Deputy Head of the NBU Yakov Smoliy said that the decision to nationalize PrivatBank had not affected the banking system and posed no significant threats to the financial stability of the State.
Earlier, both the President of the European Bank for Reconstruction and Development, Suma Chakrabarti, and Chief of the International Monetary Fund Christine Lagarde expressed support for PrivatBank nationalization.