First tranche of UAH 22.5 bln for PrivatBank capitalization to come in two-three days - board chairman
KYIV. July 4 (Interfax-Ukraine) - The first tranche of funds for capitalization of PrivatBank (Kyiv) is expected within two or three days, head of the financial institution Oleksandr Shlapak has said.
"We expect the first tranche of UAH 22.5 billion in a few days. Today the government had to make the decision, having approved the order of the Finance Ministry to increase the charter capital of PrivatBank. Accordingly, on Thursday or Friday, we will obtain the funds," he said at a press conference at Interfax-Ukraine.
As for the second tranche, according to Shlapak, the bank and the Ministry of Finance agreed that these funds will be delivered by the end of autumn.
"PrivatBank by this time will try to return a significant part of the funds or to form insurance reserves at the expense of profit it will get to minimize the amount of the tranche," the banker said.