Default in Greece will not have a direct impact on the subsidiaries of the Greek banks in Ukraine and the Ukrainian banking sector in general, stated to the “Interfax-Ukraine” agency the press service of the National Bank of Ukraine (NBU) on Wednesday.
“Banks with the Greek capital, represented in Ukraine have considerable reserves of liquidity and do not require the support of their liquidity on a daily basis. At the same time today there are practically no working channels through which the negative development of the situation in Greece may directly affect the stability of the Ukrainian banking sector. In Ukraine now are launched strict restrictions on the movement of foreign debt capital, and also is almost eliminated the aggravation of any liquidity problem of the Ukrainian subsidiaries of the Greek banks,”– said spokesman of the press-office.
«The default probability in Greece does not influence the activity of Piraeus Bank in Ukraine in any extent. Firstly, Piraeus Bank ICB is the Ukrainian bank with paid foreign capital. This means, that all operations and transactions are localized and are carrying out in accordance with the Ukrainian legislation and NBU policy, which regulates the actions of all banks’ shareholders in the country, in particular foreign shareholders too. Secondly, instant liquidity of Piraeus Bank ICB exceeds 300% as of 1.07.15. (minimum required level by NBU – 20%), i.e. we are in the list of TOP-10 the most liquid banks in Ukraine», – stated Sergey Naumov, chairman of the Piraeus Bank’s Board.
As for today Ukraine has two financial institutions with the Greek origine: by the beginning of May 2015 Piraeus Bank S.A. owned 99.99% of the share capital of Piraeus Bank ICB, EFG New Europe Holding BV – 99,9652% of Universal Bank.
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