OREANDA-NEWS. On 07 April 2009 was announced, that according to the bank's management, Ukrsibbank intends to borrow USD 100mn (UAH 770mn according to the official exchange rate) from the European Bank of Reconstruction and Development. Note that the parent of Ukrsibbank, BNP Paribas S.A. (France), intends to increase Ukrsibbank's share capital by UAH 1.3bn (31.8%) in late April 2009.

Millennium Capital sees the news to be POSITIVE for Ukrsibbank, since it requires the additional financing to increase its reserve amount, covering its non-performing loans. According to Millennium Capital‘s estimation the bank will need around UAH 3bn of additional financing to increase its reserves on the provided loans.

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.