The National Bank of Ukraine informs that Finance and Credit Bank Joint Stock Company (hereinafter - Finance and Credit Bank JSC) has completed the Capitalization Plan, which is a part of the Bank’s Financial Rehabilitation program of 25 May 2015 approved by the NBU Commission for Banks Regulation and Supervision and Payment Systems Oversight.
In particular, in March, Finance and Credit Bank JSC increased its authorized capital by UAH 616 million and made contributions of UAH 1 972 billion, and on 17 August 2015 an extraordinary general meeting of shareholders of Finance and Credit Bank JSC approved a UAH 2.5 billion increase in the bank’s authorized capital, up to UAH 7.888 billion.
Furthermore, Finance and Credit Bank JSC has improved its liquidity indicators, carried out partial debt restructuring and already decreased its total loans to related parties by UAH 3.6 billion.
NBU Governor Valeria Gontareva said that a shareholder of Finance and Credit Bank JSC had confirmed his intention to keep on supporting the bank. “Mr Kostiantyn Zhevago takes measures for financial rehabilitation of the bank; the debt restructuring is on track. We also have the shareholder’s documented commitment to sell a part of his other assets and use the revenues to improve the bank’s liquidity within the agreed timeframe”, Valeria Gontareva said.
Being aware of the importance of this issue for depositors and customers of the bank, the National Bank of Ukraine will exercise further control over the activities of Finance and Credit Bank JSC through a curator. In the event the bank fails to meet its commitments to improve liquidity and resolve debts, the regulator will immediately apply appropriate measures.