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Terms for the program "Affordable Loans 5-7-9%" change. Individuals and entrepreneurs with an annual income of up to UAH 50 mln ($1.9 mln), will be able to receive soft loans at a rate of 12% per annum up to UAH 1 mln ($38,000) without collateral (the loan can be secured by a guarantee).
8.1.4 Bank news
Russian Sberbank plans to return its banking license, and close down its operations in Ukraine, reported RBK. At the next meeting of shareholders of the Ukrainian subsidiary of the Russian state bank, Sberbank, the decision will be raised on the closing down banking activities without termination of the legal entity. The process of liquidation of Sberbank in Ukraine is hampered by the recent arrest in Russia of a number of bank employees, including Vice President, Marina Rakova.
ProCredit Bank has joined the EBRD-EU4Business Small and Medium Business Support Program by signing a Loan Agreement with the EBRD. The program is a joint EU-EBRD initiative to assist Ukrainian small and medium-sized enterprises (SMEs) in financing their sustainable investments in technologies that will enable SMEs to take advantage of the opportunities available under the Deep and Comprehensive Free Trade Area (DCFTA) to meet international standards. Under the Program, borrowing companies have the opportunity to receive grant funds (cashback) from the EBRD up to 15% of the loan amount after the successful implementation of the investment project.
Asset sales of seven Ukrainian banks. The Individual Deposit Guarantee Fund for Individuals has put up for sale the assets of seven banks valued at ₴1.93bn ($73.38mn), reported the press service of the Foundation. The following assets were put up for sale this week:
Arcade Bank, ₴889.91mn ($33.84mn)
Finance and Credit Bank, ₴560.51mn ($21.31mn) Zlatobank, ₴414.83mn ($15.78mn)
Bank Capital, ₴51.35mn ($1.96mn)
City of Bank, ₴10.86mn ($412,000)
The National Bank of Ukraine (NBU) has excluded 55 firms from the State Register of Financial Institutions due to the lack of valid licenses. "The NBU exclusion included 42 financial companies and 13 pawnshops due to the lack of valid licenses," announced NBU on its website.
The supervisory board of state-owned Ukreximbank dismissed Yevhen Metzger from the position of CEO, it reported on October 6.
Metzger’s authority has been suspended for the period of the investigation into an October 4 incident with journalists. The decision was made at the board’s extraordinary meeting today.
Recall, on October 4, investigative journalists from the Ukrainian division of Radio Liberty accused the bank’s CEO of attacking them during an interview in his office. The bank’s security men, on the CEO's order, used physical force against the journalists, took their cameras and erased all the recordings made during the interview.
Reacting to the scandal, Finance Minister Serhiy Marchenko said on October 5 that the way out of the conflict should be found “with full
45 UKRAINE Country Report November 2021 www.intellinews.com