By KYIV. Nov 13 (Interfax-Ukraine) – State-owned Ukrgasbank has opened a credit line with a total limit of UAH 93 million to the Fozzy Group commercial and industrial group to ensure the import of food products to Ukraine, as indicated in a release on the financial institution’s website.
“Within this limit, Ukrgasbank will issue letters of credit to finance the import of food products (cheese, fish, etc.) to Ukraine at the request of Fozzy Group. As part of the agreement, Ukrgasbank has already issued the first letter of credit for the import of fresh fish from Norway to Ukraine,” the State Bank reported.
It is noted that the amount of the first transaction was $520,000 (UAH 19.43 million), the period was 120 days. Financing is provided by a leading European bank and supported by the International Finance Corporation (IFC).
As the press service clarifies, delivery will be carried out by road to all stores in the chain – Le Silpo, Silpo, Fora, etc.
According to the National Bank of Ukraine, as of September 1, 2023, Ukrgasbank ranked fourth in terms of total assets (UAH 168.6 billion) among 64 banks operating in the country, its net profit for the first half of the year amounted to UAH 2.6 billion.
During the third quarter, the state bank’s network decreased by one branch and now includes 218 structural divisions throughout the country.
According to the information on the website, Fozzy Group was founded in 1997. The group is one of the largest Ukrainian retailers with more than 700 retail outlets throughout the country.
