Ukreximbank approved for UAH 1 bln charter fund injection
20 July 2009
On Friday the Cabinet of Ministers gave its approval for Ukreximbank to increase its charter fund by UAH 1 bln to UAH 9.35 bln. The purpose of the new funds, according to Ukraine’s Minister of Industrial Policy Vladimir Novitsky, is to facilitate lending to aircraft producers in Kharkiv and Kyiv. Novitsky said UAH 728 mln will be directed to this purpose. Andrii Parkhomenko: This is the third time Ukreximbank will increase its charter fund this year. Including this new transaction, since the beginning of the year, the bank will have added UAH 2.6 bln to its charter fund. The charter fund increase will improve Ukreximbank’s Debt/Equity ratio from 5.82 to 5.19, markedly better than the industry’s average of 7.44.
