Pivdenny has not stopped lending to businesses since the beginning of the war – Oleksandr Matiushenko

Despite all the difficulties of the year of war, Pivdenny Joint-Stock Bank did not stop lending to large businesses and will continue financing programs in 2023. Oleksandr Matiushenko, Head of Corporate Business Department, Board member of Pivdenny Bank, told about this at the Business Wisdom Summit panel discussion on 15 March.

According to him, in 2022, most banks were focused on financing short-term and clear agreements, where the borrower could receive a cash flow in the shortest possible time.

“Pivdenny Bank, despite active hostilities, was one of the first to implement trade financing agreements in the agricultural sector last year. This became possible thanks to exceptional expert examination in the sector, understanding the processes of shipment, movement, acceptance of grain, knowledge of the documentation accompanying such agreements,” noted Oleksandr Matiushenko.

He also mentioned that lending would continue in the current year.

“For companies that know how to adapt their business models, logistics, sales, import substitution, there are programs whose purpose is to solve specific tasks of the company. For example, working capital to reduce the cash gap, vehicle leasing to improve logistics, relocation of a warehouse or part of production and procurement of generators during blackouts. Therefore, I can say that even in wartime, financing for specific goals and specific activities is possible, and it is happening. So, we will continue to finance and develop business and our economy in 2023,” stressed Oleksandr Matiushenko.

As a reminder: in 2022, Pivdenny Joint-Stock Bank, which is the third largest bank with Ukrainian private capital in terms of assets, together with Regionala Investiciju Banka (RIB), Latvia, created the Pivdenny West Bridge program which helps Ukrainian businesses get financing for development in Europe.