KIEV, Oct. 4 - Bank Austria Creditanstalt has been granted permission to purchase a 12.8% stake in Ukraine's Megabank, the Kharkiv-based bank said in a release on its website.

"Based on a decree issued by the National Bank of Ukraine, Megabank has received the status of a bank with foreign capital. Bank Austria Creditanstalt AG has been granted permission to acquire a significant 12.8% stake in the capital of Megabank," the release says.