KIEV: The Ukrainian government may inject more funds into the additional capitalization of state-run Oschadbank.
According to him, the government’s additional capitalization of Oschadbank in 2014-2016 was due to such developments as the Russian occupation of Ukrainian territory, hostilities in eastern Ukraine, the weakening of the hryvnia and the bank’s “politically motivated” loan portfolio formed in previous years. “Additional capitalization is needed. Additional capitalization in development [is required] as investment, including for the settlement of the problems that are still unaddressed,” Pyshny added. He did not elaborate on figures, noting that it was also a matter being discussed with the Finance Ministry. UNIAN memo. State-run Savings Bank of Ukraine, or Oschadbank, was registered by the National Bank of Ukraine on December 31, 1991. It is wholly owned by the state. The financial institution in 2017 received UAH 558.523 million ($21.3 million) in net profit. The Cabinet of Ministers of Ukraine in February 2018 approved an updated strategy for reforming the state banking sector, as well as an updated strategy of Oschadbank, which assumes the receiving of UAH 4.7 billion ($178.9 million) in net profit by the financial institution in 2022.
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