Credit Dnepr Bank increases its authorized capital by UAH 1.173 billion
05 November 2018
Credit Dnepr Bank increases its authorized capital by UAH 1.173 billion, or 43.1%, to UAH 3.89 billion. The corresponding decision was made by the shareholder of the financial institution on November 5, 2018. Additional capitalization will be carried out through the private placement of additional shares at an available nominal value.
"Credit Dnepr Bank fully complies with all the necessary requirements, fulfills its obligations to clients, partners and regulator in a timely manner," said Olena Malinska, chairman of the Bank's Credit Dnepr Board. - This capitalization program is part of a restructuring plan developed on the basis of stress testing by the regulator and in accordance with its recommendations. The shareholder capitalizes the bank for the fourth time in three consecutive years, thus confirming the confidence in the success of a financial institution's post-crisis business strategy. Our further systematic work to improve the operational financial performance and asset quality, increase the efficiency and volume of the new business, along with systemic support from the shareholder, guarantee the implementation of the restructuring plan within the set time limits and will enable us to reach a sustainable profit-making activity. "
The previous capitalization program, approved in 2016, was executed by the bank ahead of schedule: in August 2018 the procedure for increasing the authorized capital by 78.8% - to UAH 2.72 billion was completed. The updated version of the bank's statute was registered on August 15, 2018.