Special Meeting of Shareholders of the Bank Finance and Credit

press-release

    Special Meeting of Shareholders of the Bank Finance and Credit took place on 24 March 2009, the main topic was participation of government and other investors in capitalization of the Bank.  

   As a result of the Meeting several strategic decisions were made regarding future functioning of the Bank Finance and Credit. In particular, it was resolved to transfer the Bank`s stock of 50%+1 share to the government.

   According the Chairman of the Board of the Bank Finance and Credit, «recapitalization is very important for the Bank to maintain its vital activities in a complex economical situation. A huge confidence in our Bank from the government is an evidence of the fact that strategy chosen by the Bank Finance and Credit is correct and existing liquidity difficulties which experienced by the Bank are caused by external factors and not by errors in banking process management. Government is interested in socially significant and economically transparent banks».

   Final decision regarding participation of the government in the equity of the Bank Finance and Credit will be made by the Cabinet of Ministers of Ukraine after an appropriate resolution on the necessary increase of the authorized capital of the Bank has been adopted by the NBU.

Information:

   Main shareholders of the Bank Finance and Credit as of 24.03.2009 are CJSC F&C Realty (46.67 %), Askania, Ltd., (48.88 %) and NJSC Naftogaz Ukrainy (0.63 %).