Banking

According to several different sources, there are currently seven probable candidate banks for receiving state support: Rodovid Bank [RODB UZ, U/R], Ukrgazbank [UGZB UZ, U/R], Finance and Credit Bank, Nadra Bank [NADR UZ, U/R], Ukrprombank, Bank Kyiv and Imexbank.

On March 17, 2009, nearly five months after imposing provisional administration on Prominvestbank, the NBU has withdrawn Prominvestbank from provisional administration.

Yesterday, the National Bank of Ukraine (NBU) has taken Rodovid Bank [RODB UZ, U/R] under provisional administration for the term of one year.

Megabank [MEGA UZ, U/R] is going to increase its statutory fund by UAH 150 mln, from UAH 200 mln to UAH 350 mln through the issue of additional shares at a par value of UAH 1. This decision will be voted on by shareholders on March, 19. The share issue is scheduled to take place March 25-31.

Raiffeisen Bank Aval [BAVL UZ, U/R] announced that it has redeemed an additional USD 150 mln of an overall USD 500 mln syndicated loan, which was attracted in April 2007 for a period of two years at LIBOR +1.2%. As Sokrat earlier reported, BAVL repaid USD 250 mln of this loan on February 13. The loan, as a whole, must be paid by April 19.

Privatbank – the largest bank in Ukraine in terms of assets – recently announced that the bank is going to increase its statutory fund by 37.5% or by UAH 2.126 bln.

According to a statement issued by Ukrgazbank [UGZB, U/R], the agenda of the bank’s EGM, which is going to be held on March 13, contains the issue about the necessity of requesting state support.

At its EGM on March 3, shareholders of Ukrsotsbank [USCB UZ, U/R] decided to increase the bank’s statutory fund by UAH 200 mln.

During the EGM held on February 26, the decision about the necessity of the state’s participation in the capital increase of Rodovid Bank [RODB UZ, N/R] was made.

According to the National Bank of Ukraine (NBU), the share of bad loans in Ukraine increased by 17 b.p. to 2.44% in January.