Since the start of 2017, the total amount of debt by solvent banks to the National Bank of Ukraine (NBU) under refinancing loans has decreased by UAH 7.7 billion, or 34%, amounting to UAH 15.2 billion as of 5 April 2017.
Oschadbank PJSC paid off the entire amount of debt to the NBU, having transferred early repayment of the remaining UAH 2 billion on 4 April.
“Robust repayments of refinancing loans by solvent banks is the strongest evidence of rehabilitation of the banking system in Ukraine thanks to a focused policy of the NBU. Currently, virtually all operating banks have paid off their debts to the regulator, with the remaining amount of outstanding debt almost entirely owed by state-owned PrivatBank,” according to NBU Governor Valeria Gontareva.
It is worth recalling that in June 2014, when Valeria Gontareva assumed her office as the Governor, outstanding debts owed by banks under refinancing loans amounted UAH 111.7 billion, as compared with UAH 15.2 billion as of 5 April 2017. Out of this amount, some UAH 14.4 billion is due by PrivatBank. The amount of outstanding debts of insolvent banks due to the regulator currently stands at UAH 45.2 billion.
Among insolvent banks major debtors under refinancing loans are Nadra Bank PJSC (UAH 9.8 billion, owned by Dmytro Firtash), Delta JSC (UAH 8 billion, owned by Mykola Lahun), CB Financial Initiative PJSC (UAH 7.2 billion) and VAB Bank (UAH 3 billion, both are owned by Oleh Bakhmatiuk), Finance and Credit PJSC (UAH 6.3 billion owned by Kostyantyn Zhevago), Imexbank JSC (UAH 3.4 billion owned by Leonid Klimov).
“If owners of these banks believe that after they have lost their banks they would not need to repay all their debts, particularly those due to the NBU, they are sorely mistaken. I hold a clear-cut and principled stance – they have to repay debts they owe to the state to the last penny,” NBU Governor emphasized.
It was precisely regarding this matter that the NBU in 2015-2016 addressed law enforcement bodies 12 times concerning allegations of crime committed by shareholders of those banks, and initiated 44 lawsuits regarding collection of banks’ debts due to the NBU by holding property and financial guarantors of these institutions accountable. In this regard, the NBU top management will continue to cooperate with Ukrainian law enforcement agencies demanding that banks’ management and owners be held accountable.