OTP Bank to boost charter capital by 28%

17:42, 15.12.2014 1 min read

OTP Bank (Kyiv) is increasing charter capital by 27.89%, or UAH 799.996 million, to UAH 3.668 billion by issuing additional shares, the bank said in the information disclosure system of the National Commission on Securities and the Stock Market.

According to the report, the bank's shareholders made the corresponding decision at a general meeting on December 12.

The bank will hold a private placement of additionally issued shares with par value of UAH 12,391. The shares will be placed at a market value of UAH 12,123 per share.

The purpose of share placement is providing ongoing activities, including the bank's compliance with the regulatory requirements of the National Bank of Ukraine (NBU).

OTP Bank was founded in 1998. Its sole shareholder is Hungary's OTP Bank Plc.

According to the NBU, as of October 1, 2014 in terms of total assets OTP Bank ranked 17th (UAH 21.902 billion) among the 166 banks operating in the country.