The decision is aimed at ensuring stable operation and development of the state-owned banks, which guarantees the protection of the rights of their depositors and creditors.
"The Ukrainian Finance Ministry is to issue government domestic loan bonds worth UAH 4.7 billion whose circulation will be up to 15 years at an interest rate of 9% per annum in exchange for additionally issued shares of the State Export-Import Bank of Ukraine [JSC Ukreximbank]," resolution No. 123 reads.
Read alsoState-run Oschadbank to join Deposit Guarantee Fund in 2018"The Ukrainian Finance Ministry, in order to ensure the implementation of the government's decision, is to issue government domestic loan bonds with an indexed value of UAH 5.4 billion with a 15-year circulation period at an interest rate of 5% per annum in exchange for additionally issued shares of the Public Joint-Stock Company 'State Savings Bank of Ukraine' (Oschadbank)," resolution No. 122 reads.
As UNIAN reported earlier, the Cabinet in early February initially decided on additional capitalization of Oschadbank and Ukreximbank, which received UAH 3.5 billion, or $130 million, and UAH 3 billion, or $111 million, respectively.
UNIAN memo. Currently, there are four state-owned banks in Ukraine, namely Ukreximbank, Oschadbank, Ukrgasbank, and PrivatBank. The latter was nationalized in late 2016. This year, the Finance Ministry and the National Bank of Ukraine are expected to revamp a strategy for the development of the state-owned banks.
