PrivatBank is in need of recapitalization

Recapitalization of state banks may start in June.

Nationalized PrivatBank is in need of recapitalization. It is reported Finclub with reference to three sources directly associated with PrivatBank and the NBU. The Bank is required 38.5 billion UAH.

The capital increase will commence before the end of June, said one of the sources.

Finance Minister Oleksandr danylyuk told capital that the capital increase will take place “when we’re ready”. The amount of capitalization, he did not name.

The capitalization of PrivatBank will be accompanied by publication of the annual report displaying the updated indicators according to the loss and size of capital. Updated deadline to the Bank for publishing the report – 1 July.

“Given that there really is a need to coordinate a large amount of information, we were given the opportunity to defer a final decision until July 1. But before July 1 should be a published report and articulated figures”, – said the Deputy Chairman of the NBU Kateryna Rozhkova.

As of July 1, the Ministry of Finance sufficient to ensure the adequacy of regulatory capital PrivatBank at 5%, it can split are now discussing capitalization tranches, as was done in the course of nationalization.

We will remind, the former Deputy Finance Minister Igor Umansky said that the recapitalization of the state of PrivatBank it is necessary 38.9 billion hryvnias.

In April, the national Bank of Ukraine estimates the need for additional recapitalization of a Bank in 30 billion.

© 2017, paradox. All rights reserved.