KYIV. Dec 24 (Interfax-Ukraine) – OTP Bank (Kyiv) has increased its charter capital by UAH 2.518 billion or 68.6%, to UAH 6.186 billion, the press service of the financial institution has reported.
“OTP Bank has finished the additional capitalization process by UAH 2.518 billion thanks to the conversion of the subordinated debt received from the parent company and thanks to other loans received from the parent company. Thus, after agreeing the documents by the National Bank of Ukraine (NBU) the charter capital of OTP Bank will be UAH 6.186 billion,” the bank said in a press release.
The bank said that under the capitalization program in Q1 2015 the bank increased its capital by around UAH 1.2 billion via conversion of the subordinated debt and the issue of shares and bonuses authorized by the shareholder. In Q2 2015 the bank paid the subordinated loan of $65 million to international institutions and the charter capital of the Ukrainian subsidiary was increased again.
OTP Bank was founded in 1998. Its sole shareholder is Hungary’s OTP Bank Plc. OTP Bank is part of OPT banking group, which also includes OTP Factoring Ukraine LLC, AMC OTP Capital, OTP Leasing LLC, and OTP Credit LLC.
OTP Bank ranked 13th among 123 banks operating in the country on October 1, 2015 by total assets (UAH 23.055 billion), according to the NBU.
