NBU: Five banks fail to meet requirements to minimum capital before time limit

Five banks have not yet met the requirements to minimum charter capital as of June 17, 2016, the National Bank of Ukraine (NBU) has reported on its website.

"A total of 22 banks required their capital increase. However, five of them did not meet the requirements as of June 17, 2016 due to unbiased reasons. These banks continue working with the NBU to improve the situation," the central bank said.

Among options to solve the problem is the increase of capital, self-liquidation if there is no interest in operating on the banking market and a merger with another market player.

The NBU said that 17 small banks increased their charter capital to the required level of UAH 120 million: since the middle of 2014 they totally boosted capital by UAH 731 million (including agreed, but not registered capital).

The central bank said that the NBU has drafted a schedule for gradual bringing charter capital in line with the requirements: no less than UAH 120 million before June 17, 2016, no less than UAH 200 million before July 11, 2017, UAH 300 million before July 11, 2018, UAH 400 million before July 11, 2019, UAH 450 million before July 11, 2020 and UAH 500 million before July 11, 2024.