“VTB took the decision to recapitalise its Ukrainian “daughter” of $97 million

– VTB (Ukraine) increases the authorized capital 2,592 billion hryvnia (about $97 million at current exchange rates), or 7.6%, to 36,808 billion UAH by additional issue of shares.

According to the official report of the Bank in the press, shareholders in the meeting on 23 October adopted a decision to increase share capital. The Bank will place shares dopvypuska nominal value of 0,1 UAH. among the existing shareholders in two stages in the period from 20 December 2017 16 January 2018. As reported, the Supervisory Council of VTB (the Russian Federation) approved the recapitalization of the Ukrainian subsidiary by UAH 2.6 bn. The capital increase is due to the money that has been issued by VTB (Ukraine) a few years ago as interbank loans.

All regulatory procedures related to the recapitalization will be completed in the first quarter of 2018. “The capital increase is due to the money that has been issued by VTB (Ukraine) many years ago as interbank loans. Thus, the parent Bank does not provide the Ukrainian subsidiary Bank of additional funds”, – said the “Interfax” in a press-service Russian Bank.

VTB group in may 2016, has announced its intention to sell the Ukrainian banks in case of interesting offers. However, in June, the leadership of VTB announced the suspension of active search for buyers. Talk about leaving the group from the Ukrainian market resumed in March 2017 after the introduction of Kiev sanctions against Ukrainian banks with Russian state capital. Introduced a year restrictions forbid them to perform any financial transactions in favour of the parent structures.

Ukrainian VTB (earlier – Bank “Mriya”) was founded in 1992. VTB Bank (Russia) owns 99,9959% in the Ukrainian Bank. For the first half of 2017 VTB (Ukraine) received a net loss of $ 1.16 billion UAH. that is 4.3 times less than in the same period of 2016. Assets beginning of 2017 decreased by 30.1% by the end of June amounted to 14,019 billion.

According to the national Bank of Ukraine, July 1, 2017 in terms of assets, the Bank occupied the 16th place out of 88 Ukrainian banks. The official exchange rate on October 25 – 26,67 UAH./$1.

Leave a Reply

Your email address will not be published. Required fields are marked *