The National Bank of Ukraine has granted a stabilization loan to Finance and Credit Bank Public Joint Stock Company (hereinafter - Finance and Credit JSC) in the amount of UAH 750 million for the term of two years.
Decision regarding liquidity support to this bank was made by the Board of the National Bank of Ukraine (Regulation No. 367/БТ as of 10 June 2015) to ensure timely fulfillment of the liabilities to depositors - individuals.
The regulator’s support is due to the accumulation with Finance and Credit JSC of 4% of the total amount of individual deposits in the banking system and 2.7% of the banking system assets, and the fact that the financial institution itself belongs to Ukraine’s group 1 banks by volume of assets.
Shareholders of Finance and Credit JSC take measures aimed to support liquidity of the bank and its capitalization.
In particular, during 2014 - 2015 the shareholders increased the bank’s authorized capital by the amount of UAH 1 116 million. Also, the shareholders take measures with regard to further increase of capitalization of the bank and express their commitment to support the current liquidity.
Finance and Credit JSC provided to the National Bank of Ukraine real estate and financial warranties of the bank’s qualifying shareholder as the collateral under this loan. Valuation of the collateral was performed by one of the leading international audit companies eligible under criteria established by rules and regulations of the National Bank of Ukraine.
Governor of the National Bank of Ukraine Valeria Gontareva, having commented on the decision, stressed: “The top priority of the National Bank of Ukraine activity is to support the financial stability and liquidity of the banking system. We support Finance and Credit JSC because we observe the clear fulfillment of the additional capitalization program, which was agreed with the National Bank of Ukraine. This program is implemented by the bank’s shareholders upon the results of the previously held stress testing. Furthermore, the bank’s shareholders have already additionally built up the authorized capital by UAH 1 972 million in June and have an obligation to significantly reduce the bank’s credit portfolio during July of the current year.