Credit history has its price: story of Pivdenny Bank’s client, Polystyl

What enables a business to secure financing even after losing its production facilities and relocating its operations? This question was explored by Serhii Kostrov, Director of Corporate Banking at Pivdenny Bank, and Olena Usenko, Chief Financial Officer at Polystyl, during the Brave CFO Gathering conference, where they shared a real-life story of the partnership between the bank and the company.

At the end of 2021, Polystyl launched an investment project to establish a galvanized steel coil coating line in Kharkiv. The company financed the construction of the production facility and the purchase of equipment using its own funds, while Pivdenny Bank provided a credit facility, including for financing of working capital to procure raw materials.

The production launch was scheduled for March 2022. However, Russia’s full-scale invasion disrupted those plans. Due to active hostilities, the company was unable to commence full-scale operations. Despite having the right to invoke force majeure, Polystyl decided to fully meet its loan obligations to the Bank and began relocating its equipment to a safer region.

“The company’s credit history and reputation are assets that remain with business regardless of circumstances. That is why meeting assumed obligations was a matter of principle for us,” said Olena Usenko.

Following the relocation, the company gradually resumed operations using its own resources. As the business continued to recover and expand, it required additional financing to support further growth.

According to Serhii Kostrov, the decisive factors in continuing the partnership were not only the company’s financial performance, but also its positive credit history, demonstrated during the most challenging period, its transparency in communication, and high-quality financial planning:

“A credit history has its price. Reputation, a commitment to fulfilling obligations, transparency, and a well-prepared strategy remain the foundation of a long-term partnership between the Bank and business, even in the most difficult times.”

Olena Usenko also emphasized that transparency should not be viewed as a response to challenging circumstances but as an integral part of the company’s corporate culture. Realistic forecasting, regular performance monitoring, and open discussions about risks enable the Bank and businesses to speak the same language of financial metrics and jointly plan sustainable growth.

Today, the partnership between Pivdenny Bank and Polystyl continues, serving as a compelling example of how responsible cooperation helps Ukrainian businesses recover, attract financing, and continue their development despite the challenges of wartime.