The new law of Ukraine, states that the minimum amount of statutory capital for the new banks in Ukraine is € 10 Million. The law also foresees that the banks in Ukraine are to be founded only as open joint stock companies or cooperative banks.
Banks registered as close joint stock companies or limited liability companies are obliged to bring their organisational form in conformity with the new law within 3 years.
Previously the minimum amount of the statutory capital for banks was differentiated in dependence of its organisational form and the scale of their activity expansion (in the territory of one region or all over the Ukraine) from € 1 Million to € 5 Million.
“The adoption of the new law will make Ukrainian banks more competitive and public,” says a spokesman from SEB.