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NBU supports nationalizing Prominvestbank

NBU supports nationalizing Prominvestbank

16 October 2008

Yesterday Petro Poroshenko, head of the National Bank of Ukraine’s supervisory board, said that the board supports the nationalization of Prominvestbank to restore the bank’s financial stability. According to Poroshenko, Prominvestbank could be absorbed by one of the state-owned banks, Oshchadbank or Ukreximbank, which could receive funds for the acquisition via a charter fund increase. In other news, Prominvestbank announced that it increased its net income 106.8% yoy to USD 88.5 mln in 9M08. The bank’s assets rose 6.2% YTD to USD 5,630.0 mln; and equity grew 34.2% YTD to USD 731.7 mln.

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