The NBU adopted the concept of merging banks

The NBU adopted the concept of merging banks

22.03.2016 News

The NBU adopted the concept of merging banks The National Bank of Ukraine (NBU) has adopted the concept of a simplified merger of banks. This was announced by the Head of Department of registration and licensing issues of the NBU,  Alexander Bevz,  writes the FinClub.

At the same time,  before that the regulator has tightened the requirements for small banks. Those who will not be able to increase the capital, can be combined with each other.

“The simplified procedure will be applied not only for those banks that need recapitalization, but also for other large banks. Also, there is a question of price determination of the shares. It was supposed to conduct an independent valuer. However, after consultation with market participants, we realized that such a process is very complex.  That’s why it  is submitted that the evaluation can be either carried out, or not if the parties agree independently”, – Bevz said.

The simplified procedure of mergers for  banks should be carried out for 3-4 months.

As previously reported, the National Bank of Ukraine  intends to initiate amendments to the legislation to reduce the merger procedure for banks, requiring additional capitalization, up to 3-4 months comparing with 1.5 years at the current moment.

It will be recalled, that the National Bank of Ukraine ordered the small banks to accelerate the bringing of the minimum capital into line with law requirements to at least 500 million UAH.

Source: segodnya.ua

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