REUTERS
Customers need to additionally submit an application to obtain a deferral of interest and monthly fees.
Ukraine's largest state-owned PrivatBank says it has extended loan holidays until the end of July 2020 for small- and medium-sized businesses, introduced from early March for the coronavirus (COVID-19) quarantine period.
"This deferral of payments is valid for all small- and medium-sized businesses' customers on the products 'credit limit to the account' and 'entrepreneurial credit limit,' according to which the requirement of mandatory monthly zeroing of the limits is postponed to July 31, 2020. Customers need to additionally submit an application to obtain a deferral of interest and monthly fees," PrivatBank's press service said on May 28.
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The bank introduced loan holidays both for healthy loans and for overdue ones that have failed to be repaid on time since early March. PrivatBank also canceled the accrual of penalties and fines for small- and medium-sized businesses' all previously overdue loans.
As UNIAN reported earlier, PrivatBank announced a significant reduction in rates from May 25 on all loan programs for financing legal entities and entrepreneurs to help Ukrainian businesses overcome the consequences of the COVID-19 lockdown. Anti-crisis conditions for financing entrepreneurs will be valid until the end of 2020.
UNIAN memo. Dnipro-based PrivatBank has been operating in Ukraine since 1992. It is Ukraine's No. 1 bank in terms of assets. The bank has been owned by the state since December 2016. PrivatBank posted UAH 32.6 billion (US$1.2 billion) in net profit in 2019.