Russian bank's Ukrainian subsidiary posts US$121.8 mln in losses last year

As of January 1, 2019, Prominvestbank's charter capital was UAH 50.9 billion ($1.8 billion).

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Russian state-owned Vnesheconombank's Ukrainian-based subsidiary Prominvestbank in 2018 posted UAH 3.389 billion (US$121.8 million) in losses.

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The financial institution's charter capital was UAH 50.919 billion ($1.8 billion) as of January 1, 2019, according to the bank's report posted on its website.

UNIAN memo. Prominvestbank is one of the largest Ukrainian-based banks in terms of assets. It is owned by the Russian state-run Vnesheconombank (VEB).

The sanctions imposed on Russian state banks' Ukrainian subsidiaries have been in effect since March 2017. They ban the withdrawal of capital in favor of the parent structures.

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