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Ukraine's Oschadbank fully repays central bank refinancing loans

PJSC State Savings Bank of Ukraine, or Oschadbank, completed the repayment of refinancing loans received from the National Bank of Ukraine, with the last payment of 2 billion Ukrainian hryvnia carried out April 4.

The lender said it received 19.9 billion hryvnia from the central bank from November 2008 through June 2014 to finance state programs in which it was involved.

A significant part of the loans, amounting to 17.4 billion hryvnia, was repaid ahead of schedule. Oschadbank's management board head Andriy Pyshny said the bank was able to replace the central bank financing with its own resource base, namely funds raised from companies and individuals, which will help the lender improve its performance and profitability indicators.

As of April 4, US$1 was equivalent to 27.14 Ukrainian hryvnia.