Banking

The Standard & Poor’s international rating agency has reported on the results of a study on information transparency of the 30 largest Ukrainian banks. As a result, the index of information transparency of banks in Ukraine has grown from 45 to 49% since 2008.

The National Bank of Ukraine has introduced a three-fold increase in fines for banks that have committed violations of Ukraine’s legislation pertaining to foreign currency exchange operations.

The NBU resolution #569 came into force on November 30, 2009. This decision stated that interim administration would be introduced on any bank in the case that the adequacy of its regulatory capital requirement decreases to a level that is less than 7%.

According to the Moody’s international rating agency, the forecast for the Ukrainian banking system remains negative, reflecting the precarious state of the fundamental credit quality of local banks in the medium term.

Government-owned Ukreximbank successfully redeemed USD 250 mln Eurobonds.

International rating agency Fitch Ratings downgraded the individual ratings of UkrSibbank, UkrSotsBank (USCB: BUY) and the bank "Forum" (FORM: BUY) from "D/E" to "E".

According to the bank’s press service, Megabank[MEGA UZ, HOLD] intends to increase its statutory capital by UAH 150 mln to UAH 0.5 bln. The decision will be voted on at the EGM scheduled for August 21.

Ukrainian prime minister Yulia Timoshenko said the government can recapitalize the largest troubled banks, Nadra and Ukrprombank. It could take two to three months to do this, said the Prime Minister.

According to Ukranews, domestic beer producers decreased beer production by 7.6% MoM to 34.4 mln dal in June, 2009. However, beer production increased by 3.6% YoY or by 1.2 mln dal. For the period of January-June a total of 155.3 mln dal (-6.3% YoY) was produced by Ukraine’s breweries.

According to Ukrgazbank’s [UZGB UZ, U/R] press service, all participants in its syndicated loan have reached a preliminary agreement and signed a term sheet about the restructuring of UZGB’s USD 23 mln syndicated loan.