Pravex-Bank (Kyiv) is attracting UAH 615 million to its capital, reads a bank press release.

"In tight cooperation with the shareholders the bank has taken measures to increase its capital by UAH 615 million," reads the report.

Board Chairman Taras Kirichenko said that the bank has started placing new shares.

"Recently a part of new shares was placed: they have reinforced the financial state of Pravex-Bank. We expect that this step will be appreciated by our Ukrainian and foreign clients in the current market conditions. Representatives of Intesa Sanpaolo, who are taking measures to improve the bank's operation, are managing the bank," the banker said.

Pravex-Bank told Interfax-Ukraine that its charter capital was increased by UAH 5.8 million or 0.6%, to UAH 974.97 million via an additional issue of shares. Thanks to the placement of shares at a price which is higher than their face value, UAH 615 million will be attracted to the bank's capital.

Pravex-Bank was founded in 1992. Its only shareholder in January 2015 was Intesa Sanpaolo S.p.A.

Pravex-Bank ranked 38th among 166 operating banks as of October 1, 2014, in terms of total assets, worth UAH 4.942 billion according to the National Bank of Ukraine.