OREANDA-NEWS. February 17, 2010. The NBU announced plans to resume refinancing of commercial banks starting from 21 February 2010. The refinancing will be provided at 10.25% ± 0.5-2% to those banks that comply with the requirements of the banking regulator. The NBU may refuse refinancing if a commercial bank fails to fulfill the financial recovery program, in case of an early debt redemption, or if a bank pays bonuses to the management.

The resumption of the NBU refinancing lies in line with Millennium Capital’s forecasts and will enable the commercial banks to recover lending in 2010. This new is rather neutral for banks with foreign capital, such as Raiffeisen Bank Aval, Ukrsotsbank and Forum, since they are more concerned in the international refinancing and keep prematurely redemption of their obligations.