The First Ukrainian International Bank (FUIB) said on Wednesday that its regulatory capital will increase by approximately $12.6 million after its merger with Renaissance Capital Bank.
This was attributed to the unification of balance sheets from both banks during a general meeting of shareholders that took place on Saturday.
“FUIB is one of the few Ukrainian banks that does not require additional capitalization, according to an NBU assessment made as part of stress testing last year," FUIB Management Board Chairman Sergey Chernenko said. "Increasing regulatory capital is one more anchor of reliability for our depositors in these difficult times."
FUIB said this is a 6 percent increase in regulatory capital, with its regulatory capital adequacy ratio improving by 0.5 percent, based on calculations from the National Bank of Ukraine.
Consolidation of both banks' branches is expected to be completed within the year; both institutions will operate under the FUIB name.