Cabinet OKs boosting Ukreximbank's charter fund to UAH 10 bln

The Cabinet of Ministers decided on Wednesday to increase Ukreximbank’s charter fund by UAH 650 mln to UAH 10.0 bln, Acting Finance Minister Ihor Umanskiy said yesterday, according to Interfax. Mykyta Mykhaylychenko: Continued government support for the bank is definitely positive news. The question, though, is how these new resources are going to be spent: financing to questionable projects/companies (such as lending to Naftogaz) could have a negative impact on the bank’s financial stance in the future. Ukreximbank’s total exposure to Naftogaz equals some UAH 1.8 bln.