Kyiv-based PJSC Sky Bank (formerly known as Region-Bank), which is controlled by Kazakh investor Arif Babayev, intends to consider reorganizing the financial institution, the bank has said in the information disclosure system of the Ukrainian National Securities and Stock Market Commission.

According to the report, the agenda of a general meeting of stockholders scheduled for April 23, 2018, includes, in particular, the issue of granting the bank's supervisory board the powers to hold talks on such reorganization and necessary measures with PJSC Bank Sich (Kyiv).

As reported, in late March 2017, the Verkhovna Rada adopted law No. 1985-VІІІ on the simplification of procedures for the reorganization and capitalization of banks.

The law allows all banks, including those not requiring capitalization, to carry out reorganization under a simplified procedure, the term of which has been reduced to three to four months from one-and-a-half years.