NBU extends by six months deadline for banks to replenish charter capital

REUTERS The National Bank of Ukraine (NBU) has postponed for six months, until January 2021 the deadline for the banks to replenish their charter capital up to UAH 300 million (US$12.2 million). The regulator initiated a reduction in the banks&#39; minimum charter capital from UAH 500 million (US$20.4 million) to UAH 200 million (US$8.2 million). "Prior to the adoption by the Verkhovna Rada [Ukraine&#39;s parliament] of the relevant draft law, the National Bank decided to postpone the deadline for banks to bring their authorized and regulatory capital to UAH 300 million from July 11, 2020, to January 1, 2021," the NBU said in a statement. Read alsoIn Ukraine, most operating banks post profit in Jan-Sept – NBU The National Bank also added that after the adoption of the law, the central bank would introduce appropriate changes to its regulations. As UNIAN reported earlier, legislators with the Servant of the People Party, Oleksandr Dubinsky and David Arakhamia, had proposed that the Verkhovna Rada reduce the banks&#39; minimum charter capital to UAH 200 million from UAH 500 million currently established. The relevant draft law (No. 2385) was registered in Parliament on November 6. According to the previous NBU schedule, the deadline for charter capital replenishment to UAH 300 million was set for July 11, 2020, up to UAH 400 million (US$16.3 million) – for July 11, 2022, and up to UAH 500 million – for July 11, 2024. According to the banks&#39; statements as of September 1, there are no banks in Ukraine with charter capital below UAH 200 million. However, 30 financial institutions have their capital below UAH 300 million.

NBU extends by six months deadline for banks to replenish charter capital

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