EBRD, KfW, IFC to capitalize Megabank

11:11, 17.03.2015 1 min read

The European Bank for Reconstruction and Development (EBRD), KfW Entwicklungsbank and the International Finance Corporation (IFC) will take part in the additional capitalization of Megabank (Kharkiv), retaining their stakes in its capital, and bring UAH 43.2 million to the bank's capital by issuing additional shares.

The bank said that the agreements will be signed on Tuesday.

Megabank shareholders in December 2014 decided to increase its charter capital by 24% or UAH 120 million, to UAH 620 million through the private placement of shares.

The EBRD and KfW shares are 15% each, and for IFC – 6.02%

The majority shareholder in the bank is Turboatom Director General Viktor Subotyn with a 60.15% stake and 3.83% belongs to over 240 companies and individuals.

Megabank (formerly Bank Dobrodiy) was established in 1990.

Megabank ranked 32nd among 158 operating banks as of January 1, 2015, in terms of total assets worth UAH 6.91 billion, according to the National Bank of Ukraine.