The FINANCIAL — The European Bank for Reconstruction and Development is set to acquire a stake in Megabank, a mid-sized bank based in Kharkiv, EBRD Director for Ukraine Andre Kuusvek has announced in an interview with the Kontrakty newspaper.
"We're planning to acquire a stake in Megabank and also participate in ProCredit Bank's capital increase, the EBRD already holding a stake therein," he said.
Kuusvek stressed, these are, certainly, not all the banks that would receive assistance from the EBRD.
In his data, the bank is ready to pump at least USD 600 million in supporting Ukraine's financial sector in all this year.
EBRD Director for Ukraine added, the bank has business relations with thirteen Ukrainian banks and in current situation their number would increase.
"The EBRD grants loans only to those financial organisations it trusts and that meet our criteria. This is why the number of banks we're backing hardly can grow too much," he said.
In Kuusvek's words, after financial recovery, changing structure of banks' owners and other changes, a string of banks would become of interest for the EBRD to acquire stakes in.
As Ukrainian News earlier reported, as of April 1, 2009, the assets of the bank were valued at UAH 3,028.640 million, its loans to clients and clients' debts amounted to UAH 2,390.301 million, and its equity capital amounted to UAH 333.735 million.
Megabank ended January-March 2009 with a net profit of UAH 699,000, and 2008 with a profit of UAH 21.900 million.
The shareholders of Megabank are Viktor Subotin (who owns 5.18% of the bank's shares directly and 60.54% indirectly), Olena Subotina (59.75% indirectly), and the M Invest closed joint-stock company (44.59% directly and 5.36% indirectly).
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