Finance & Credit Bank to look at state capitalization at EGM

Finance & Credit Bank shareholders will consider receiving recapitalization support from the state at their next general meeting, though a date has not yet been set, Ukrainian News said yesterday, citing the bank’s press office. The decision to be recapitalized by the state requires bank shareholder approval. Alexander Paraschiy: By law, shareholder meetings can take place 40 days after their official announcement, meaning that the bank’s EGM cannot be held before late July. This seems to imply that F&C decided to take a 1.5-2 month break to seek alternativee financing (vs. the state’s plan).