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KreditpromBank Opens The Door To Long Term Loans For Ukrainian Banks?

KreditpromBank Opens The Door To Long Term Loans For Ukrainian Banks?

13 October 2008

KreditpromBank announced yesterday that it had received a structured, 3-year, syndicated loan for $42 mln from the European Bank of Reconstruction and Development (EBRD) with an interest rate of less than 10%. As of January 1, 2006, KreditpromBank was the #12 Ukrainian bank in terms of assets. Alexander Viktorov: With the announcement of this loan KreditpromBank has set a precedent, three years is the longest term any Ukrainian bank has received an international loan. If this becomes a trend, Ukrainian banks will be able to enjoy not only cheap but long term funding from abroad.

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