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16:51
IFC ALLOCATES $20 M TO MEGABANK

Kyiv, July 28 (Interfax-Ukraine) – Representatives of the International Finance Corporation (IFC) and Megabank (Kharkiv) on July 28 signed an agreement on providing the Ukrainian bank with $20 million in financing, an IFC representative in Ukraine has said.

The bank is being financed with the purpose of improving the access of small- and mid-sized businesses to credit resources. The bank will get $10 million as a three-year convertible credit and $10 million as a seven-year subordinated credit.

OJSC Megabank (formerly Bank Dobrodiy) was established in 1990. As of April 1, 2009, its major shareholders were CJSC M-Invest (49.9%) and Viktor Subotin (5.1831%). Along with this, Subotin was the largest beneficiary of the bank as of early April 2009.

According to the National Bank of Ukraine, as of April 1, 2009, in terms of total assets (UAH 3.029 billion) the bank ranked 47th among the 182 operating banks in Ukraine.

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