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Oschadbank provides extra $50 mln in loans to Epicenter K

KYIV. Sept 21 (Interfax-Ukraine) – State-controlled Oschadbank (Kyiv) has provided Epicenter K LLC with new loans totaling $50 million for the construction of elevator complexes for grain storage, as well as for the construction and opening of new shopping centers, the bank’s press service reported.

According to the report, at the expense of the funds, in particular, it is planned to finance the completion of the construction of elevators with a capacity of 180,000 tonnes of storage in Shepetivka and Chotyrboky (Khmelnytsky region).

Epicenter K LLC was established in 2003 and opened its first hypermarket in Kyiv in December of the same year. As of February 24, 2022, the network included 80 Epicenter shopping centers and Nova Linia hypermarkets in Ukraine.

During the Russian-Ukrainian war, three shopping centers in Chernihiv, Bucha, and Mariupol were completely destroyed. Some of the network facilities have suspended work due to the proximity of hostilities, several are located in the temporarily occupied territory.

Oschadbank was founded in 1991. Its sole owner is the state.

According to the statistics of the National Bank, as of June 1, 2022, in terms of total assets (UAH 257.06 billion) Oschadbank ranks second in the rating among 69 banks operating in the country.