Raiffeisen Bank is planning to send its profits for 2022 less dividends in the amount of UAH 1.572 billion to the bank’s reserve fund.
According to a report in the system of the National Securities and Stock Market Commission (NSSMC), the relevant decision will be considered at the remote gathering of the bank’s shareholders on April 28.
It is pointed out that the bank plans to deduct UAH 700 th from the profit for 2022 to pay dividends to the owners of the bank’s preferred shares before sending them to the reserve fund.
According to the National Bank of Ukraine, Raiffeisen Bank on the size of assets as of January 1, 2023, was in 5th place (187.26 billion UAH) among 67 operating Ukrainian banks.
The Federal Deposit Insurance Corporation (FDIC) has reached an agreement to sell the assets and deposits of Silicon Valley Bridge Bank to the American bank First-Citizens Bank & Trust Company, the FDIC said in a statement.
Silicon Valley Bridge Bank is a bailout bank created by the FDIC, which received the assets and deposits of Silicon Valley Bank (SVB), which closed in early March.
“Depositors of Silicon Valley Bridge Bank will automatically become depositors of First-Citizens Bank & Trust Company. All deposits transferred to First-Citizens Bank & Trust Company will continue to be FDIC insured up to the insurance limit,” according to the press release. The FDIC insurance covers deposits up to $250,000.
On Monday, March 27, all 17 Silicon Valley Bridge Bank branches will begin operating as part of First-Citizens Bank & Trust.
As of March 10, Silicon Valley Bridge Bank had estimated assets of about $167 billion and deposits of $119 billion.
As part of the deal, First-Citizens will receive $72 billion in assets at a discount of $16.5 billion, according to the FDIC. First-Citizens will also assume a $56 billion deposit service obligation.
The bank’s $90 billion in securities and other assets will remain under regulatory management. In addition, the FDIC received rights to shares of First Citizens BancShares Inc. for up to $500 million. The regulator and First-Citizens also entered into an agreement to share losses on Silicon Valley Bridge Bank loans.
First-Citizens, which is registered in North Carolina, is only the 30th largest U.S. bank by assets, a figure estimated at about $109 billion, but Bloomberg notes that the bank has extensive experience in acquiring troubled competitors – since 2009 it has bought more than 20 banks that were forced to ask for help from the FDIC.
Silicon Valley Bank (SVB), the 16th largest bank in the U.S., announced its closure on March 11. The bank had provided banking services to many U.S. startups. The withdrawal of funds from deposits by SVB corporate clients to cover costs amid falling revenues, superimposed on the declining value of the securities portfolio due to tightening Fed policies, eventually led to the fact that the bank had to be placed under the management of the FDIC.
The FDIC tentatively estimates the cost of the deposit insurance fund in connection with the closure of SVB at about $20 billion.
Chairman of the Verkhovna Rada Ruslan Stefanchuk will pay an official visit to the United Kingdom of Great Britain and Northern Ireland on 27-28 March.
According to the press service of the Verkhovna Rada, the program of the visit includes meetings with members of the British parliament. In particular, Stefanchuk will communicate with Speaker of the House of Commons Lindsey Goyle and Lord Speaker of the House of Lords D.F. McFaul, members of both Houses of Parliament, representatives of the UK-Ukraine Friendship Group and the Conservatives as Friends of Ukraine initiative group.
A number of bilateral meetings are also planned: with British Prime Minister Rishi Sunak and former British Prime Minister, MP Boris Johnson.
During the visit, a memorandum of understanding will be signed between the offices of the Verkhovna Rada and the House of Commons of the Parliament of the United Kingdom of Great Britain and Northern Ireland.
The State Emergencies Service of Ukraine warns Ukrainians of significant avalanche danger (level 3) in the highlands of Ivano-Frankovsk region on March 26 and 27.
“Not the best conditions for hiking in the mountains. So for now it is better to enjoy the beauty of the Ukrainian mountains only in pictures. Take care! Believe me, there will still be a great occasion and weather for hiking trips!”, – said in the message of the State Emergency Service, released on Sunday.
The Ukrainian national soccer team lost to England in the opening match of the Euro 2024 selection with a score of 0:2, the Ukrainian Football Association said.
“In the end, the England national team celebrated a 2-0 victory, while the Ukrainians will try to rectify the situation as early as June,” it said in a report published Sunday evening.
On June 16, the North Macedonia-Ukraine match will be played in the third qualifying round.
German residents were moving more actively around the country on Sunday, many domestic trains were jammed with passengers as people sought to get to their desired destinations before a major strike by transport workers began, Western media reported.
On Monday, March 27, many transport workers, from railroad workers to airport and public transport employees in cities, are expected to take part in a nationwide strike. This strike is expected to halt traffic in the country for a day.
German trade unions have called on thousands of transport workers to take part in the strike and to demand higher wages – to cope with high inflation. Thus, in the trade union Verdi said that they had appealed to go on strike to 120 thousand people and in the EVG union that protects the rights of railway workers in Germany – to 230 thousand people.
The unions are seeking to raise the wages of the transport industry employees by 10-12%, but at the moment, the employers offer a phased increase of 5% and a one-time payment of about EUR2.5 thousand.
Meanwhile, on Sunday, the day before the strike, Munich Airport was already closed, flights were also cancelled or delayed in Germany’s largest airport – Frankfurt am Main Airport.
