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Ukrainian govt increased charter capital for Ukreximbank

Ukrainian govt increased charter capital for UkreximbankUkraine's Cabinet of Ministers has approved new regulations for Ukreximbank, as well as increasing the bank's charter capital by UAH 9.319 billion to UAH 31.009 billion.

Cabinet resolution No. 235 of March 30, 2016 has been posted on the government's website.

The bank will issue 21.209 million ordinary nominal shares with a face value of UAH 1,462.

Ukraine's government earlier decided to increase charter capital of two state-run banks Oschadbank and Ukreximbank (both based in Kyiv) by UAH 4.956 billion and UAH 9.319 billion, respectively.

Read also: Ukrainian govt asked parlament to toughen Ukraine-Cyprus convention on avoiding double taxation

Cabinet resolutions No. 31 and No. 33 dated January 27 stipulate that part of the additional issues of the banks' shares will be swapped for government domestic loan bonds.

After the issues, the state will retain 100% of shares of each bank.

The charter capital of Oschadbank will reach UAH 34.8 billion and Ukreximbank – UAH 31 billion.
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