24.08.2009, 08:13
Officials Comment Deal of Megabank with EBRD and KfW
OREANDA-NEWS. August 21, 2009. European bank for reconstruction and development (EBRD) and German state development bank KfW provide to PLC "Megabank" (Kharkov) packages of financing for the total amount of EURO 28,9 million. The signing of the agreement was held August 20th in Kiev, in EBRD's office, reported the press-centre of Megabank.
The program of financing envisages joint acquisition by EBRD and KfW 30% of Megabank's shares (by 15% each), as well as a long term loan from EBRD, equivalent EURO 10,4 million (for 5 years), and subordinated loan from KfW, equivalent EURO 2,5 million (for 7 years). Declared by the investors purpose of the program is to strengthen Megabank's liquidity and capital during continued instability in the banking sector of Ukraine, as well as grant to Megabank a long term financing for lending to local borrowers after stabilization of the market. EBRD also organizes a technical assistance program for the amount of USD 0,5 million, which will help improve the risks in Megabank.
As the director of EBRD in Ukraine Andre Kuusvek mentioned, for realization of this project the Megabank was chosen not incidentally. "We very carefully approached to the choice of the bank, especially in today's complex time for economic sector. We aim that the medium bank steps out into national leaders", - underscored А.Kuusvek. As per his words, by this project EBRD continues to support the banking sector of Ukraine. From the beginning of the year, including this transaction, EBRD has provided to the bank the financing for more than USD 500 million. А.Kuusvek said, that EBRD is sometimes reproached that it pays attention only to banks with foreign capital share, however in this year, as per the words of EBRD's director in Ukraine, around 65% of investments EBRD invested into banks with Ukrainian capital.
The first vice-president of KfW Doris Kohn underlined that by this project KfW demonstrates readiness to cooperate with enterprises of the banking sector of Ukraine even in conditions of financial crisis. Д.Kohn mentioned, that KfWas Megabank's a shareholder "is not after a quick dollar. We are interested in a stable movement for perspective ".
According to her words KfW effects this investment on the order of German Federal Government within the framework of "Program of support of Ukrainian banks", for which in 2009 is envisaged EURO 30 million. The purpose of the program is to support medium Ukrainian banks, which lend to small and medium enterprises. Besides the investment into the capital, KfW continues to support "Megabank" via consultations, in this case - on the issues of organization of anti crisis measures in the bank.
As the Megabank's Chairman of the Supervisory Board Victor Subbotin informed, August 21st bank's general shareholder's meeting will be held, at which the issue of bank's shares for the amount of UAH 150 million will be announced. It is planned that, the charter capital of the bank will grow up to UAH 500 million, and around 70% of bank's shares will remain in ownership of Ukrainian shareholders.
Megabank's chairman of the management board Elena Zhukova mentioned that signing a three lateral agreement is a continuation of lasting cooperation Megabank with EBRD and KfW. According to her words, "Megabank" within the framework of lending to small and medium businesses has issued loans to more than 200 enterprises for the amount of USD 20,5 million and EURO 5 million, as well as within the framework micro lending program - 400 loans for the amount of USD 6 million. Е.Zhukova informed, that the funds, received within the framework of today's agreement, will be channeled to lending the enterprises, which make up the foundation of client's base of the bank, and also for lending new clients-entrepreneurs.
The program of financing envisages joint acquisition by EBRD and KfW 30% of Megabank's shares (by 15% each), as well as a long term loan from EBRD, equivalent EURO 10,4 million (for 5 years), and subordinated loan from KfW, equivalent EURO 2,5 million (for 7 years). Declared by the investors purpose of the program is to strengthen Megabank's liquidity and capital during continued instability in the banking sector of Ukraine, as well as grant to Megabank a long term financing for lending to local borrowers after stabilization of the market. EBRD also organizes a technical assistance program for the amount of USD 0,5 million, which will help improve the risks in Megabank.
As the director of EBRD in Ukraine Andre Kuusvek mentioned, for realization of this project the Megabank was chosen not incidentally. "We very carefully approached to the choice of the bank, especially in today's complex time for economic sector. We aim that the medium bank steps out into national leaders", - underscored А.Kuusvek. As per his words, by this project EBRD continues to support the banking sector of Ukraine. From the beginning of the year, including this transaction, EBRD has provided to the bank the financing for more than USD 500 million. А.Kuusvek said, that EBRD is sometimes reproached that it pays attention only to banks with foreign capital share, however in this year, as per the words of EBRD's director in Ukraine, around 65% of investments EBRD invested into banks with Ukrainian capital.
The first vice-president of KfW Doris Kohn underlined that by this project KfW demonstrates readiness to cooperate with enterprises of the banking sector of Ukraine even in conditions of financial crisis. Д.Kohn mentioned, that KfWas Megabank's a shareholder "is not after a quick dollar. We are interested in a stable movement for perspective ".
According to her words KfW effects this investment on the order of German Federal Government within the framework of "Program of support of Ukrainian banks", for which in 2009 is envisaged EURO 30 million. The purpose of the program is to support medium Ukrainian banks, which lend to small and medium enterprises. Besides the investment into the capital, KfW continues to support "Megabank" via consultations, in this case - on the issues of organization of anti crisis measures in the bank.
As the Megabank's Chairman of the Supervisory Board Victor Subbotin informed, August 21st bank's general shareholder's meeting will be held, at which the issue of bank's shares for the amount of UAH 150 million will be announced. It is planned that, the charter capital of the bank will grow up to UAH 500 million, and around 70% of bank's shares will remain in ownership of Ukrainian shareholders.
Megabank's chairman of the management board Elena Zhukova mentioned that signing a three lateral agreement is a continuation of lasting cooperation Megabank with EBRD and KfW. According to her words, "Megabank" within the framework of lending to small and medium businesses has issued loans to more than 200 enterprises for the amount of USD 20,5 million and EURO 5 million, as well as within the framework micro lending program - 400 loans for the amount of USD 6 million. Е.Zhukova informed, that the funds, received within the framework of today's agreement, will be channeled to lending the enterprises, which make up the foundation of client's base of the bank, and also for lending new clients-entrepreneurs.
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