Kyiv authorities intend to release UAH 50 mln to increase Bank Khreschatyk charter capital
The 2015 Kyiv city draft budget foresees that the cost of increasing Bank Khreschatyk’s (Kyiv) charter capital will be UAH 50 million.
"In 2015, thanks to funds from the budget's special fund, it is planned to send funds to increase the charter capital of public joint-stock company Bank Khreschatyk – UAH 50 million," reads an explanatory note to the 2015 Kyiv draft budget.
As reported, Bank Khreschatyk shareholders at a general meeting on November 27, 2014 decided to increase its charter capital by 24.1%, or UAH 200 million, to UAH 1.029 billion via an additional issue of shares. This was the first stage of the bank's capitalization program, under which the bank's charter capital will grow to almost UAH 1.38 billion.
Bank Khreschatyk was founded in 1993. The main financial department of Kyiv City State Administration as of early October 2014 owned a 24.9397% stake in the bank, Ukrfinkom 37.4427% and Market Invest Group Ltd. 21.032%.
According to the National Bank of Ukraine, the bank ranked 24th among the 166 banks operating in Ukraine in terms of total assets (UAH 8.527 billion) as of October 1, 2014.
