Erste said the major shareholders plan to invest up to E117.8 million each over the next four years in order to support the banks' business plan.
Erste says that the Ukrainian banking sector has developed strongly in recent years, with total sector assets increasing by 19% in the last six months alone, driven by private household demand for credit.
The bank, which will be jointly managed and supervised, will operate under the ErsteBank brand as a universal bank, focusing on both corporate and retail business.
Bank, with total consolidated assets of approximately $57 billion, is one of the largest banks in Austria.
Bank is supervised and regulated by the Ministry and the Austrian National Bank ("Central Bank").
Bank's capital is in excess of the minimum levels that would be required by the Basle Capital Accord and is considered equivalent to capital that would be required of a U.S. banking organization.
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