NBU
The number of banks that violate the minimum registered capital norm in Ukraine has dropped to seven, according to FinClub.
Over a monthly period (July 11 – August 11), two banks were declared insolvent, namely CB GEFEST PJSC and Novy bank. Financial Partner bank was allowed to abandon its banking license, while 11 banks completed additional capitalization, FinClub reports.
Read alsoInstitutional Investor: Ukraine tops EMEA list for potential investmentWithin another month (August 11 – September 11), only a single bank completed the required procedure. Settlement Center Bank, controlled by the National Bank of Ukraine (NBU), increased its authorized capital from UAH 153.1 million (US$5.9 million) to UAH 206.7 million ($7.9 million).
On the morning of September 11, the registered authorized capital under UAH 200 million ($7.7 million) was reported in seven banking institutions, namely Tsentr (Center) bank, Credit Optima Bank, Ukrainian Bank for Reconstruction and Development, Policombank, Alpari Bank, Ibox Bank, and Portal Bank, according to the Justice Ministry.
Read alsoNBU mulls measures to ease forex market regulationsNoteworthy, the NBU's requirement to banks to have a minimum registered authorized capital of UAH 200 million came into force on July 11. Twenty-two banks violated the standard back then, potentially leading to a drop of their status to "problematic."
As UNIAN reported earlier, the National Bank oblige Ukrainian banks to raise capital to UAH 200 million by July 11, 2017; to UAH 300 million by July 11, 2018; to UAH 400 million by July 11, 2019; to UAH 450 million by July 11, 2020, and to UAH 500 million by July 11, 2024.