Ukrsotsbank (UniCredit Bank, Kyiv) is boosting its charter capital by 3.4 times, or UAH 5.869 billion, to UAH 8.337 billion, the bank has said in a press release.

"At its annual general meeting of shareholders on April 24, 2015, PJSC Ukrsotsbank approved an increase in charter capital by UAH 5,868,544,600.90," the bank said.

This will be a private placement of an additional issue of shares among the bank's current stockholders, it said.

"The process of expanding the bank's charter capital by the said amount will be completed in August 2015, and it will be an add-on to the $250 million spent on the strengthening of the bank's capital in March," the bank said.

As reported, in March 2015, UniCredit disbursed $250 million to Ukrsotsbank, which was converted into the Ukrainian bank's equity capital.

Ukrsotsbank was founded in 1990. UniCredit Bank Austria AG by January 2015 owned 37.3533% in Ukrsotsbank, PrJSC Ferrotrade International had 35.5811%, UniCredit S.p.A. held 26.479%.

Ukrsotsbank ranked 6th among 158 operating banks as of January 1, 2015, in terms of total assets worth UAH 48.258 billion, according to the National Bank of Ukraine.