Russian Bank VTB will throw some money its Ukrainian “daughter”

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Российский банк ВТБ подкинет деньжат своей украинской "дочке"

Russia continues tireless concern for the welfare of Ukraine. We barely had time to digest the news about the official resumption of the supply of diesel toplinarstvo diesel fuel that is used for refueling military vehicles, killing residents of Donbass, came the news from the world of Finance: the Russian Bank VTB re decapitalize its Ukrainian “daughter”.

The Supervisory Council of VTB has approved the recapitalization of the Ukrainian subsidiary in the amount of 8.9 billion UAH.

The share of VTB authorized capital of PJSC “VTB Bank” (Ukraine) after the recapitalization will be at least 99,9945%.

The purchase of shares will be made at the expense of funds received from the Ukrainian subsidiary as a result of the repayment of interbank and subordinated loans, previously issued by VTB Bank, as well as in the form of interest on these loans, in the amount equivalent to UAH 8.9 billion.

Recall that in the fall of 2015 VTB already have increased the capitalization of “daughter” in Ukraine in the amount of 14.5 billion hryvnias (at the exchange rate at the period of about 680 million USD).

This is not new money, and the conversion into capital of part of the interbank loans, which VTB had given Ukrainian Bank. VTB management has already stated that he does not exclude another recapitalization of subsidiaries.

In 2015, the owners of the banks with Russian capital have saved the Ukrainian economy, providing half of foreign investments in this country. This was announced by the former head of NBU, former first Deputy Prime Minister Serhiy Arbuzov on his page in Facebook, commenting on the pogroms of Russian banks in Ukraine.

“But there is a special poignancy in this pseudo-Patriotic frenzy. The fact that last year the owners of the banks with Russian capital, in fact, provided half of foreign investments into the country. According to the national Bank, three-quarters of the net increase in direct investment have on the banking sector. In this sum the lion’s share – 65%, amounted to recapitalization of banks with Russian capital. There is no final data of the NBU, but first, 34 billion USD. or $1.5 billion at the average annual exchange rate of Russian financial institutions was at different times opened in subsidiary banks: 18,7 bln in VTB Ukraine, more than UAH 6 billion. – in Prominvestbank, and 4.8 billion USD. – in Sberbank Ukraine (data of Association of Ukrainian banks). Alfa-Bank, Russian banks may include a stretch — 3.1 billion UAH. The foreign banks increased the capital of its subsidiaries total of 14 billion UAH., that is less than the recapitalization of VTB alone. I guess the question of who supports the balance of payments of Ukraine in a very difficult time, you can close” — writes Watermelons on his page. And leads chart patterns of foreign direct investment in Ukraine’s economy in 2015.

We will remind that in the night of 22nd February this year in Lviv was set on fire an office of VTB Bank.

On the fire place in the branch of VTB in Lviv

Recall that the main shareholder of VTB is the Russian Federation, which is represented by the Federal property management Agency and the Ministry of Finance belongs 60,9348% of the voting shares, or 45,01% (including GK “Agency on insurance of contributions” — 92,23%) of the share capital of the Bank.

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