REUTERS
Russian state-owned Vneshtorgbank (VTB) has decided on additional capitalization of its Ukrainian-based subsidiary VTB Bank and will inject UAH 2.592 billion, or $97.5 million, through the placement of the subsidiary's additional shares, according to the Russian bank's announcement in the corporate information disclosure system.
The Russian bank will use funds received from the Ukrainian VTB Bank as the repayment of interbank loans and relevant interest to pay for the new shares.
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UNIAN memo. VTB Bank has been operating in Ukraine since 1992. It ranked 15th in the banking system in terms of assets. Russian Vneshtorgbank's stake in the Ukrainian subsidiary has been more than 99.9% of shares since 2006.