Prominvestbank's assets in 2015 shrank by 17.6%, to UAH 41.65 billion / Photo from UNIAN
One of Ukraine's largest banks, Prominvestbank, owned by Russia's Vnesheconombank (VEB) posted UAH 20.274 billion, or $805 million, in loss in 2015, which was 3.4 times up on 2014, according to the bank's announcement of its updated financial results in the National Securities and the Stock Market Commission's information disclosure system.
Prominvestbank on March 11 reported rough estimates of its loss in 2015 at UAH 18.06 billion, thus, the updated figure is more than UAH 2 billion up on the preliminary results.
Read alsoRussia's VEB may leave Ukrainian market in the long runIn keeping with the updated report, the Ukrainian bank's assets in 2015 shrank by 17.6%, to UAH 41.65 billion, while its liabilities rose by 26.6%, to UAH 53.922 billion. Its net worth as of the end of 2015 was negative and was estimated at UAH 12.272 billion, whereas it was positive in 2014 and stood at UAH 7.948 billion.
UNIAN's memo. Prominvestbank belongs to the group of Ukraine's largest banks. Its 99.4% stake is held by Russia's VEB.
Late in February 2016, the bank announced the completion of the procedure to boost capital by UAH 20 billion, or 2.1 times, to UAH 39 billion in keeping with its stockholders' decision on additional capitalization.