On July 10, the National Bank provided long-term (5-year) refinancing loans to 7 banks for a total of UAH 5.1 billion. Funds are allocated at 6% per annum.
Two banks that received the biggest amounts are: Yury Rodin’s Pivdenny (he also owns FC Tecom, TIS-Mineral Fertilizers, etc.) and Rinat Akhmetov’s FUIB [First Ukrainian International Bank]. They received UAH 2.5 billion and UAH 1.9 billion, respectively.
It is unclear how these funds will be spent. Although it is known that many banks spend national bank refinancing to earn on domestic government bonds at 10-12% per annum.
Pivdenny, FUIB, and Avangard Bank received the long-term refinancing of the National Bank on Friday. Valeria Gontareva, who is a former head of the National Bank, owned Avangard Bank. Now her partners from the investment company ICU control it. Avangard received a moderate loan amount from the NBU - UAH 200 million; however, the frequency with which it goes for the refinancing of the regulator is disturbing. It rarely misses auctions, regularly requests loans:
• July 10 - UAH 200 million;
• July 3 - UAH 200 million;
• June 19 - UAH 150 million;
• June 12 - UAH 20 million;
• May 22 - UAH 525 million;
• May 15 - UAH 305 million.
The full list of the National Bank refinancing recipients on July 10 is the following:
1. Pivdenny Bank - UAH 2.5 billion;
2. FUIB - UAH 1.9 billion;
3. Bank Globus - UAH 400 million;
4. Bank Avangard - UAH 200 million;
5. CIB - UAH 57 million;
6. Ibox Bank - UAH 41 million;
7. Credit Agricole Bank - UAH 10 million.
Andrey Pshenichnyi for the site dubinsky.pro