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BNP Paribas hikes stake in UkrSibbank.

Global Banking News-14 July 2009-BNP Paribas hikes stake in UkrSibbank(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 14 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

French bank BNP Paribas SA (BNP.FR) (OTCBB: BNPQY) has said it has increased its stake in its Ukranian subsidiary UkrSibbank to 81.4 percent, after the recapitalisation of the unit and the purchase of a stake from another shareholder.

The recapitalisation of UkrSibbank took place in April to meet local regulatory requirements, said a BNP Paribas spokeswoman. The French bank has also recently purchased shares in the Ukrainian lender from businessman Ernest Galiev, the spokeswoman said.

When it took control of UkrSibbank in 2006, BNP Paribas acquired a 51 percent stake in the bank.

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Publication:Global Banking News (GBN)
Date:Jul 14, 2009
Words:150
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