OREANDA-NEWS. On 18 March 2009 Pryvatbank, the largest domestic bank by the amount of both assets and regulatory capital, announced that its will consider its charter fund increase by 19.8% to UAH 6.8bn at the EGM on 21 April 2009. With this aim the bank will direct the dividend payments, planned in 2009, to the increase of its shares par value by 19.8% to UAH 161.

Millennium Capital sees the news to be POSITIVE for Pryvatbank, since the banks regulative capital will retain at the same level as in 2008, preserving bank’s capitalization at a quite high level around 22% vs. 10% required minimum. At the same time Millennium Capital expects that the bank will use these funds to increase its reserves amount, which are to be raised by around UAH 2bn in 1Q2009.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.