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PKO Bank's Ukrainian unit buys Platinum Bank retail loan portfolio

PKO Bank Polski SA's Ukrainian unit, PJSC Kredobank, purchased rights to a retail loan portfolio of PJSC Platinum Bank from the Ukrainian Deposit Guarantee Fund.

The portfolio, comprising more than 11,000 retail loans, was acquired for 61.3 million Ukrainian hryvnia at a public auction via Ukraine's ProZorro public procurement platform, with a relevant agreement signed Aug. 4, the lender said Aug. 8.

The Ukrainian central bank revoked the license of Platinum Bank and decided to liquidate the lender in February.

As of Aug. 8, US$1 was equivalent to 25.71 Ukrainian hryvnia.