IFC takes 6% stake in Megabank

Megabank (UX: MEGA UK) announced yesterday that the International Finance Corporation acquired a 6% stake in the bank as of April 23, in line with agreements signed in July 2009. The IFC becomes the third largest international financial institution to have holdings in the Kharkiv-based lender, after the European Bank for Reconstruction & Development and Kreditanstalt fur Wiederaufbau (KfW) took on stakes in October 2009. Megabank was Ukraine’s #45 largest bank by assets, with UAH 3.2 bln, as of January 1, 2010, according to the National Bank of Ukraine.