Ukrainian banks as of January 11, 2017 are to boost their charter capital to at least UAH 300 million, while earlier the period was until July 11, 2020, the National Bank of Ukraine (NBU) said in a report.

Resolution No. 58 that amends the schedules for bringing banks' charter and regulatory capital to the size foreseen in Ukrainian law was approved by the NBU's board on February 4, 2016.

The central bank said that according to Ukrainian law, the charter capital of operating banks is to be at least UAH 120 million by July 17, 2016 and gradually increased to UAH 500 million by July 11, 2024, and new banks can be registered only with the capital starting from UAH 500 million.

According to the new schedule, banks are to bring their capital to at least UAH 400 million by January 11, 2018 and to UAH 450 million by January 11, 2019, while earlier the NBU planned that banks will increase their charter capital to UAH 150 million by July 11, 2017 and boost it by UAH 50 million each next year until July 11, 2024.

"Starting from 2017, banks are to accelerate capital boosting. This would allow increasing their financial stability and ability to resist to risks.

According to the NBU, as of early October 2015, 22 banks had charter capital less than UAH 120 million out of 123 operating banks, including 13 banks with charter capital less than UAH 100 million.

A total of 58 banks had capital lower than UAH 300 million, including 39 banks with less than UAH 200 million.

The charter capital of all Ukrainian banks as of early October 2015 was UAH 191.88 billion.