The First Ukrainian International Bank (FUIB) has successfully passed stress tests set by the banking regulator, yet the bank has decided to boost its capitalization, FUIB Governor Serhiy Chernenko said.

The stress tests are held in line with the International Monetary Fund cooperation program and the World Bank's project designed to support the Ukrainian financial sector.

"The FUIB has successfully passed stress tests by the NBU [National Bank of Ukraine], and has turned to be among those fewer that don't need additional capitalization," the banker told reporters.

"However, we'll continue working to prop up the high level of our capital adequacy. Thus, we've already agreed to extend the current subordinated debt worth UAH 482.3 million, which falls due this year, for another seven years. What is more, we'll be able to boost regulatory capital by UAH 255 million due to the merger of the FUIB and Bank Renaissance Credit," he added.

The banker stated that boosting capitalization will allow the bank and its business to grow responsibly, abiding by all requirements set by the banking regulator, whilst increasing its security against any drastic fluctuations in the market.