PRAVEX BANK increased its authorized capital for UAH 1.1 bln

09.02.2018

According to the Decision dated November 27, 2017 Intesa Sanpaolo s.p.A. (Turin, Italy) as the sole shareholder of “PRAVEX-BANK” PJSCCB acquired additional emission of PRAVEX BANK for the overall amount of UAH  1,108,878,840 (one billion one hundred and eight million eight hundred seventy-eight thousand eight hundred forty hryvnias).

Changes of the Articles of Association of PRAVEX BANK concerning increase of its authorized capital, as well as other legal procedures shall be performed until the end of Q2 2018.

Thus, Bank’s authorized capital was increased for 25% vs. the beginning of 2017; as of February 1, 2018 share capital (authorized capital, including unregistered and emission differences) of PRAVEX BANK comprises UAH 5,579,908,818.50 mln.

“Our Bank, classified as one of the banks belonging to international  banking groups, is committed to all requirements of the National Bank of  Ukraine. Authorized capital increase was triggered neither by regulatory  requirements to the authorized capital, nor to the liquidity, while Bank’s  indicators of capital adequacy and liquidity are already higher than prudential  standards required for banking activity according to the National Bank of  Ukraine and European standards.Moreover, starting from this year we made a full  transition to IFRS 9, but the transition impact on capital was minor” – Mr. Taras Kyrychenko, Chairman of Management Board of PRAVEX BANK, commented.

Reference information: 

PRAVEX-BANK” PJSCCB is a part of the banking group Intesa Sanpaolo, which is one of the leading banking groups in the Eurozone and is a leader in all business sectors in Italy.

PRAVEX-BANK” PJSCCB constantly improves its operation, raises standards of provision of banking services and becomes better for its clients and partners.

Intesa Sanpaolo is among the top banking groups in the euro zone and is the leader in Italy in all business areas: retail, corporate, and wealth management. In Italy the Group offers its services to 12.6 million customers through a network of over 4,800 branches well distributed throughout the country with market shares no lower than 12% in most Italian regions.

Intesa Sanpaolo has a selected presence in Central Eastern Europe and Middle Eastern and North African areas with approximately 1,100 branches and 7.6 million customers belonging to the Group's subsidiaries operating in commercial banking in 12 countries. Moreover, an international network of specialists in support of corporate customers spreads across 26 countries, in particular in the Middle East and North Africa and in those areas where Italian companies are most active.

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