PrivatBank to increase charter capital by 9.8%
KYIV. April 29 (Interfax) - The shareholders in Ukraine's largest bank, Dnipropetrovsk-based PrivatBank, have decided to increase the bank's charter capital by 9.8%, or UAH 1.455 billion, to UAH 16.353 billion, PrivatBank said in a press release.
The decision was approved at a general shareholder meeting on April 26.
"PrivatBank will increase its charter capital by 9.8% from the total of its existing capital," the press release said. "Capital will be increased by earmarking part of the profit earned by the bank in 2012."
Last year, PrivatBank generated UAH 1.533 billion in net profit, up 7.5% over 2011. This was the largest profit recorded in the banking system last year.
"The bank's shareholders decided not to send money to the dividend payment fund, but to earmark it to increase charter capital and expand the bank's reserve capital," the press release said.
The bank's charter capital will be raised via a UAH 22.50 increase in the par value of shares, to UAH 252.92 each.
"The number of shares issued by the bank and their distribution among shareholders remains unchanged," the press release said.
PrivatBank was founded in 1992. According to the National Bank of Ukraine, PrivatBank was the largest of the 175 operating banks in the country in terms of assets (UAH 172.429 billion) as of January 1.
As of March 18, PrivatBank's largest shareholders were Hennadiy Boholiubov (33.9117%), Ihor Kolomoisky (33.7991%) and Triantal Investments Ltd. (Cyprus, 24.99%).