The Ukrainian government will take controlling stakes in three banks and inject a total of $1.26bn of capital, Yulia Tymoshenko, prime minister, said on Wednesday, reports Reuters. Five Ukrainian banks have been identified as being in financial trouble. The government will buy stakes of between 84% and 99.9% of three banks – Ukrgazbank, Rodovid and Kyiv banks – and is considering nationalising the remaining two.

This entry was posted by Gwen Robinson on Thursday, June 11th, 2009 at 4:42 and is filed under Capital markets. Tagged with Ukraine. Edit this entry.