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Cominvestbank shareholders approve 125M hryvnia capital boost

The shareholders of PJSC Commercial Investment Bank plan to increase its authorized capital by 125 million Ukrainian hryvnia, in line with its recapitalization plan, the lender said May 31.

The increase, approved by the shareholders in April, will bring the lender's authorized capital to 250 million hryvnia, allowing it to meet the Ukrainian central bank's new regulatory minimum capital requirement of 200 million hryvnia, which will be effective July 11.

The lender also said it successfully passed all phases of the central bank's diagnostic survey with regard to quality and capital adequacy and is up to date with its commitments regarding recapitalization.

As of May 31, US$1 was equivalent to 26.31 Ukrainian hryvnia.