New banking law

 
· Direct or indirect acquisition of 10%, 25%, 50% and 75% of the bank's voting shares or capital requires prior permission of the NBU.

The minimum capital requirements for newly established banks are the Hryvnia equivalent of:

· EURO 3,000,000       for      commercial     banks operating within 1 region (oblast); and
· EURO 5,000,000 for banks operating within the whole Ukraine.

 compliance with the new law.
 (The Law of Ukraine "On Banks and Banking Activities" No. 2121 dated 7 December 2000, published in the "Uriadovyi Kurier" newspaper of 17 January 2001)

© PricewaterhouseCoopers Kyiv. This newsletter is for information purposes only and is not intended to be technically comprehensive. Professional advice should be sought before taking action on any item contained herein. Further information can be obtained from your regular PricewaterhouseCoopers contact at the following numbers: tel. +380 (44) 490 6777, fax +380 (44) 216 4558.