The international financial group Intesa Sanpaolo S.p.A. (Turin, Italy) has capitalized Pravex-Bank (Kyiv) for UAH 1.109 billion, according to the bank’s website.
“The only shareholder of Pravex-Bank, Intesa Sanpaolo S.p.A., in accordance with the decision of November 27, 2017 acquired the additionally issued shares of Pravex-Bank for a total of UAH 1.109 billion. Changes in the charter of Pravex-Bank to increase charter capital and other legal procedures will be completed by the end of the second quarter of 2018. Thus, the bank’s capital increased by 25% compared to the beginning of 2017 and as of February 1, 2018 amounted to UAH 5.580 billion,” the report said.
Chairman of the board of Pravex-Bank Taras Kyrychenko said capital increase was not caused by regulatory requirements.
“The increase in capital was not due to regulatory requirements to capital or liquidity, the bank’s capital adequacy and liquidity indicators are several times higher than the economic standards for the banks established by the NBU and European norms,” the banker said.