Banking

The National Bank of Ukraine’s Acting Head, Anatoliy Shapovalov, announced that, on February 27, the Board of the NBU is going to discuss the issue of providing state capital to Ukrainian banks.

The National Bank of Ukraine’s Acting Head, Anatoliy Shapovalov, announced that the NBU and bankers have reached a pre-agreement about an arrangement that will allow borrowers to repay their foreign exchange loans according to the NBU’s intervention exchange rate (7.9 USD/UAH), which is now significantly lower than the interbank rate (8.9 USD/UAH) or the cash exchange rate at banks, according to which borrowers buy USD to repay their foreign exchange debts to banks.

According to an announcement made by Kredobank [ZUKB UZ, U/R], the bank is going to increase its statutory capital by UAH 1.024 bln, bringing it up from UAH 526.8 mln to UAH 1.55 bln through an additional share issue that is scheduled to take place on April 2-23, 2009. The bank plans to place 102.41 bln shares, each having a UAH 0,01 par value.

The owners of Rodovid Bank [RODB UZ, U/R] are going to discuss the issue concerning the necessity of asking for state support at its EGM scheduled on February 26, according to information published by Interfax-Ukraine.

Ukraine’s First Vice Minister Oleksandr Turchynov announced that the Cabinet of Ministers has released a new resolution about the state’s participation in the recapitalization of banks.

On Tuesday, the press service of Rodovid Bank [RODB UZ, U/R] announced that the ISTIL Group is going to acquire a 39% stake in the bank in March.

As announced by EBRD President Tomas Mirow, the EBRD plans to provide EUR 500 mln towards the recapitalization of Ukrainian banks.

The Unicredit Group intends to increase the statutory fund of Ukrsotsbank [USCB UZ, U/R] by UAH 0.5 bln to UAH 1.57 bln, according to USCB Chairman of the Board Borys Tymonkyn.

Raiffeisen Bank Aval [BAVL UZ, U/R], ranked second in Ukraine by assets, has redeemed a USD 250 mln of an overall USD 500 mln syndicated loan. The loan was attracted in April 2007 for a period of two years at LIBOR +1.2%. The participants in this loan consisted of 42 banks.

According to the bank’s statement, Ukrsibbank, which is ranked fourth in Ukraine by assets, decided to raise its statutory fund by UAH 1.275 bln to UAH 5.280 bln, through an additional share issue of 25.5 bln shares with a par value of 0.05 each. The subscription is scheduled for April 9-27, 2009.