State to capitalize only banks with provisionary administration, says resolution

The state is to take part in the capitalization of only those banks where provisionary administration has been introduced.

The new wording of the existing procedure was approved by the cabinet under its resolution No. 148 of February 18 on some issues of the state's participation in the capitalization of banks.

"The state can take part in the capitalization of banks in conditions when it receives at least 50% plus one share personally or jointly with other investors in the case of the signing of an agreement on joint participation in the capitalization," reads the resolution.

The previous version of the resolution approved on November 4 contained a condition on the obligatory transfer of a 50% plus one share stake to the state.

In addition, the new wording gives the right of an initiative on the participation of the state in the capitalization of banks not only to the National Bank of Ukraine (NBU), but also to the finance ministry and bank owners, although the next stage - the submission of proposals by the NBU to the finance ministry - was retained.