China buys Ukrainian bank

 China buys Ukrainian bank

China's Bohai Commodity Exchange (BOCE) has bought the Ukrainian Bank for Reconstruction and Development (UBRD), the head of the State Property Fund (SPF) Ihor Bilous said.

SPF hopes that the National Bank of Ukraine (NBU) would permit the Chinese investor to enter the capital of the bank aiming to develop its operations in Ukraine as soon as possible.

The key requirement to the winner is the expansion of the bank's capital by UAH 2.5 million to UAH 120 million so that the bank can meet the NBU requirements, Interfax reports.