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Report: Ukraine's International Investment Bank mulls capital hike

Ukraine-based JSC International Investment Bank intends to increase its authorized capital by 59.5 million Ukrainian hryvnia, or 21.7%, to 333.6 million hryvnia and will use part of its profits to finance the hike, Interfax-Ukraine reported March 14.

The lender's shareholders will vote on the planned capital increase during an April 19 meeting. As of Jan. 1, Ukrainian President Petro Poroshenko was the main shareholder of International Investment Bank, with a 60% stake, Interfax-Ukraine noted, adding that the president's business partners are minority shareholders.

As of March 14, US$1 was equivalent to 26.84 Ukrainian hryvnia.