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Minister Serhiy Marchenko said in mid September.
The volume of credit card purchases by Ukrainians outside the country plummeted by 63% this summer compared to the summer of 2019 due to the coronacrisis and collapse of the tourism industry, ​reports the Ukrainian Processing centre. Similarly, the volume of money withdrawn from ATMs outside Ukraine dropped by 47%, reports the centre, a Raiffeisen Bank International unit that processes transactions for 38 banks and 1,700 online stores in 16 countries of Central and Eastern Europe.
8.1.4 ​Bank news
The Cabinet of Ministers has approved a strategy for steadily reducing the state share in Ukrainian banking, from 60% today, to below 25% in 2025​. By the end of next year, all four state banks are to draw up road maps for the sale of public shares.
Cabinet to increase Ukreximbank equity by UAH6.8bn. ​Ukraine’s cabinet voted on September 23 to approve an equity increase for state Ukreximbank by UAH6.8bn, Interfax-Ukraine reported the same day, citing an announcement by the finance minister at cabinet’s weekly Wednesday meeting. The government is going to contribute the respective amount of state bonds to the bank’s equity, with maturity in 15 years and a coupon rate of 9.3%. Recall, the bank’s CEO Yevhen Metzger said in August that he was in talks with the government on a ​possible equity increase by up to UAH10bn​. He said the bailout is needed to cover additional bank provisions under old non-performing loans. As of August 1, the bank’s loans for a gross value of UAH75.0bn (57.3% of total) were classified as non-performing, while Metzger hinted that the share of NPLs was underestimated. Since 2014, Ukreximbank has received capital contributions from the state for a total of UAH22.0bn. With this most recent bailout, its equity will have been raised to a total of
54​ UKRAINE Country Report​ October 2020 ​ ​www.intellinews.com