The Kyiv City Council decided to capitalize bank Khreschatyk by UAH 100 million.

The press service of the council reported that the additional capitalization is foreseen in the Kyiv's budget for 2016 passed by the city council on December 22.

According to the press release, after the additional capitalization the municipal stake in the charter capital of the bank will be proportionally increased and retained at 25% plus one share.

An Interfax-Ukraine correspondent has reported that 51 lawmakers opposed the additional capitalization of the bank, while at least 61 votes are required to pass the decision.

Bank Khreschatyk was founded in 1993. Its major shareholders as of early July 2015 were Ukrfinkom LLC (37.4427%), the main financial department of Kyiv City State Administration (24.9397%), and Market Invest Group (21.032%).

The bank ranked 19th among 123 operating banks as of October 1, 2015, in terms of total assets worth UAH 10.09 billion, according to the National Bank of Ukraine.