OREANDA-NEWS. April 29, 2009. Joint Stock Company The State Export-Import Bank of Ukraine (JSC Ukreximbank) continues to receive strong support from its sole shareholder, the Cabinet of Ministers of Ukraine (the Government), reported the press-centre of Ukreximbank.

Willing to support Ukrexim efficient performance as a real economy financier, the Government, in pursue of its non-dividend policy towards Ukreximbank, has established a zero basic standard of profit distribution to owner by the state bank and approved further increase in the authorized capital of Ukreximbank through capitalisation of profits gained in Y2008. In accordance with the Resolution by the Cabinet of Ministers of Ukraine of 15.04.2009 No375, authorized issued share capital of the JSC Ukreximbank has been increased by UAH 590,882,273.8 to total UAH 7,353,514,536.55. As a result, Ukreximbank remains one of the best capitalized Ukraine banks.

In 2008, the Government made three injections into Ukreximbank authorized capital, including capitalisation of Y2007 profits, total worth UAH 1,576.6 million. As a result, total shareholder's equity in FY2008 grew 58.2%yoy. In January 2009, Ukrexim share capital was increased by UAH 3,700.0 million to UAH 6,762.6 million. This capital injection led to a comfortable capital adequacy level of 19.70%, significantly up from 10.98% as at year-end 2008.

The state owns 100% shares of the JSC Ukreximbank, being the Bank’s sole founder and shareholder.