The Antimonopoly Committee of Ukraine (AMC) has allowed the European Bank for Reconstruction and Development (EBRD) to concentrate more than 25% in UkrSibbank (Kharkiv, part of BNP Paribas Group), reads a posting on the website of the AMC.

"Allow the European Bank for Reconstruction and Development (London, the United Kingdom) to purchase shares in PJSC UkrSibbank, providing the buyer with over 25% of the voting shares on the bank's board," reads a statement.

As reported, the EBRD will increase its stake in UkrSibbank to 40% from 15% during charter capital increase.

UkrSibbank's shareholders at an extraordinary meeting on November 16, 2015 decided to increase charter capital by 3.5 times or by UAH 4.466 billion, to UAH 6.239 billion by issuing additional shares.

The bank will conduct a private placement of additionally issued shares with a par value of UAH 0.01.

UkrSibbank was founded in 1990.

BNP Paribas S.A. (France) as of the beginning of October 2015 owned 84.9996% in the bank, the EBRD held 15%.

UkrSibbank ranked ninth among 123 banks in Ukraine in October 2015 in terms of assets (UAH 38.084 billion).