Pivdenny Bank raises UAH 2.5 billion for NBU refinancing

Pivdenny Joint-Stock Bank raised UAH 2.5 billion in the National Bank of Ukraine tender for a long-term 5-year refinancing. This was reported by the bank’s press service.

“The new monetary instruments launched this year by the NBU to stimulate economic growth inspire us to continue active work in this direction. We plan to apply these funds to support our existing and potential clients with credit funds”, said Pivdenny Bank Deputy Chairman Maksym Tsymbal.

As of 1 July 2020, Pivdenny Bank is the leader among the top twenty banks in terms of growth in the volume of business loans in the national currency in both absolute and relative terms. Since the beginning of 2020, the total volume of business loans has increased by almost UAH 3 billion (or + 40 %), reaching UAH 10.3 billion. At the same time, only since the beginning of quarantine, the total volume of business loans has increased by UAH 1.75 billion.

We are currently entering the active phase of road construction under the “Large Construction” state programme; the harvest season in agriculture has started and plants engaged in processing agricultural products are preparing. In these areas, we traditionally have a very strong position and for the second half of the year we are actively increasing the volume of loans issued to support business. In addition, we would like to note that in the context of the NBU's policy to dedollarize the banking sector and reduce the demand in the banking system for foreign currency loans, we continue to see a unique opportunity to apply available foreign currency funds to more actively increase lending to the real sector in national currency”, added M. Tsymbal.

We would like to remind readers that MOODY`S International Rating Agency increased all the positions of the Pivdenny Joint-Stock Bank rating assessment by one step, including the basic creditworthiness assessment (caa1 → b3). The forecast is “stable”. This is the maximum possible value for a Ukrainian bank under the existing sovereign rating of the country.