The decision on capital increase adopted on the basis of proposals of the National Bank
The government adopted a decision on additional capitalization of PrivatBank 38.5 billion UAH.
This was stated today, on June 23, Finance Minister Alexander danyluk.
“The government has made a decision, an important decision on additional capitalization of PrivatBank in the amount of 38.5 billion UAH”, – he said.
He recalled that the analysis of the needs for additional capital PrivatBank was performed by an independent auditor E&Y.
“The decision on capital increase adopted on the basis of proposals of the National Bank and the recommendations of the expert-analytical Council. The capital increase is carried out in two phases by the issue of bonds of internal state loan. At the first stage it is planned to issue bonds to the amount of UAH 22.5 billion. It is quite a large amount of money that the government has to amend the Bank’s capital to cover losses,” – said danyluk.
The Minister noted that, according to the auditor, the quality of the loan portfolio was worse than expected at the time of the transition of the Bank into state ownership.
The NBU said earlier that to replenish the Bank’s capital, the government has already spent almost 5% of GDP.
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