The NBU recognized the impeccable reputation of the owners of Miloan and 4 other companies

The National Bank of Ukraine recognized the impeccable business reputation of five financial companies and their owners. The Miloan online lending service, known in Ukraine, is among the institutions with regard to which such a decision was made.

The reason was the Russian citizenship of the head of the Swiss company Bradley CH AG, which has shares in the Ukrainian financial business. In addition, according to the regulator, the owners provided the National Bank with inaccurate information about themselves.

Why it matters

Recognizing the business reputation as impeccable is not a formality: it gives the NBU grounds for restrictive measures against the owners and managers of the company, if the regulator sees a threat to the transparency of ownership or the financial stability of the institution.

Miloan is one of the prominent players in the online microcredit market in Ukraine, so the NBU's decision concerns a company whose services thousands of borrowers could deal with. You can read about how such services work, what to pay attention to when applying for a loan and what are the alternatives in materials about microcredits online. The decision of the NBU does not automatically stop the work of companies, but creates additional control over their ownership structure and further activities on the market.