“Safe Deposit is back in business: National Bank canceled restrictions ahead of schedule
25 November 2025 03:50
The National Bank of Ukraine has announced the early lifting of restrictions previously imposed on the activities of Safe Deposit Credit Union. This decision was made after the institution completely eliminated violations of prudential standards. This was reported by "Komersant Ukrainian" with reference to the National Bank.
Why the restrictions were imposed
As a reminder, on June 9, 2025, the NBU’s Committee for the Supervision of Non-Banking Financial Services imposed restrictions on the provision of certain types of loans for credit unions. The ban was in effect until the end of 2025 and applied to transactions in which the liabilities of one member of the union or a group of related parties could exceed 15% of the regulatory capital.
The ban included
- entering into new loan agreements in excess of the permissible limit;
- extending the terms of existing agreements in excess of the standard;
- amendments to the agreements that could increase the amount of liabilities above 15% of the regulatory capital.
The NBU applies such safeguards to minimize risks and ensure the stability of the non-banking financial sector.
Why the restrictions were canceled earlier
“Safe Deposit” has fulfilled all the requirements of the regulator and completely eliminated the comments on violations. After confirming this, the NBU agreed to lift the restrictions early.
According to the National Bank, the decision will come into force immediately after it is officially communicated to the credit union.
Thus, Safe Deposit can resume full-fledged provision of financial services before the end of the period for which the restrictions were initially imposed.
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