Ukreximbank to receive UAH 1 bln capital injection

Ukraine’s Cabinet of Ministers approved a UAH 1 bln increase in 100% state-owned Ukreximbank’s charter fund, which would bring it to UAH 8.4 bln, according to a May 6 decision made public yesterday. In order to back the charter fund increase, the Finance Ministry will issue UAH 1 bln in local bonds with a tenor of nine-years at 9.5% YTM. Alexander Paraschiy: This is the second increase of charter fund of Ukreximbank in 2Q09. Last month, the state has increased the banks’ capital by UAH 0.59 bln.