Government boosts statutory capital of Oschadbank

The Cabinet of Ministers has increased the statutory capital of the OJSC "State Savings Bank of Ukraine" (Oschadbank) by UAH 200 million, Finance Minister Viktor Pynzenyk told journalists on Wednesday.

The national budget for 2008 foresees UAH 300 million for raising the statutory capitals of Ukrainian state-owned banks, including UAH 200 million to increase the statutory capital of Oschadbank and UAH 100 million to boost the statutory capital of Ukreximbank.

Oschadbank's statutory capital was UAH 922 million by March 31, 2008. The bank is fully state-owned.