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Ukraine-based Pravex Bank gets capital boost from parent

Intesa Sanpaolo SpA increased the capital of unit PJSC commercial bank PRAVEX-BANK by 1.1 billion Ukrainian hryvnia by purchasing additional shares issued by the Ukrainian lender.

Following the hike, the lender's share capital increased by 25% to 5.6 billion hryvnia, with all legal procedures regarding the increase to be completed by the end of the second quarter, Pravex said Feb. 9.

As of Feb. 9, US$1 was equivalent to 26.81 Ukrainian hryvnia.