The National Bank of Ukraine (NBU) will be able to include banks that fail to comply with capital adequacy requirements in the group of problem banks, according to the bank regulator`s website.
This is stipulated in relevant resolution No. 336, which became effective on May 30.
The NBU recalls that the requirements of the minimum amount of banks` authorized capital set at UAH 500 million minimum are stipulated by Article 31 of the Law of Ukraine ”On Banks and Banking Activity.”
At the same time, the regulator says it has set a timeline for operating banks to increase their authorized and regulatory capital to meet the minimum capital requirements set out by applicable laws.
From now on, banks will be required to increase their capital to the level as mandated hereby: up to UAH 120 million by June 17, 2016, to UAH 200 million by July 11, 2017; up to UAH 300 million by July 11, 2018, up to UAH 400 million by July 11, 2019, to UAH 450 million by July 11, 2020, and up to UAH 500 million by July 11, 2024.
Some bankers say the fulfillment of the NBU requirements may be a daunting task for some small-sized banks.
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