You're reading: Bank Kyiv needs Hr 3 billion additional capitalization, Ukrgasbank Hr 3.7 billion

A stress test conducted in 2010 showed that Bank Kyiv needs additional capitalization of Hr 3 billion and Ukrgasbank needs Hr 3.7 billion, the government of Ukraine reported in documentation for an issue of Ukrainian eurobonds.

As reported, the Cabinet of Ministers controls five banks: state-owned Oschadbank and Ukreximbank, as well as Rodovid Bank, Ukrgasbank, and Bank Kyiv, which transferred to state management under an anti-crisis program for banking sector capitalization.

As of early July 2010, the government’s direct stake in Ukrgasbank was 87.719%, and that in Bank Kyiv – 99.9369%. In 2009-2010, Hr 8.6 billion in budget funds were allocated to capitalize the banks: Hr 5 billion to Ukrgasbank and about Hr 3.6 billion to Bank Kyiv.

As of July 1, 2010, the statutory capital of Bank Kyiv was about Hr 3.6 billion, and that of Ukrgasbank Hr 5.7 billion.