Banking

The recapitalization process at Ukrgazbank [UGZB UZ, U/R] has finished, the bank is once again fully repaying deposits and it has cancelled all limits on credit card payment operations. According to a bank statement, UGZB had previously been repaying only those deposits with amounts less than UAH 30 thsd.

Ukrsibbank has paid off a USD 75 mln loan taken from a pool of Middle East and Asia Pacific banks. In a news item on its web site, the bank emphasized the fact that the remaining public debt for 2009 amounts to only USD 80 mln, which is not expected to become a problem for the bank to repay.

Ukraine has issued government bonds maturing in 2017-2019 to the 3 banks which are first in line to be recapitalized. The bonds total UAH 9.47 mln.

The National Bank of Ukraine announced its preliminary aggregated data concerning the performance of the Ukrainian banking system in June. Private deposits rose 2.68% MoM (-7.66% YtD) to UAH 199 bln, while corporate deposits declined by 1.11% MoM(-17.08% YtD) to UAH 117.9 bln.

The EBRD is preparing to provide USD 134.5 mln to Ukreximbank. According to a statement on the EBRD website, part of the funds will be raised in the form of a syndicated loan involving Standard Bank Plc., Deutsche Pfandbriefbank AG, CALYON, Citibank N.A., London Branch, UniCredit Bank Austria AG, Bayeriche Hypo- und Vereinsbank AG.

Forum Bank[FORM UZ, U/R] has announced that shareholders are considering a capital increase. The proposed increase comes via the issuance of an additional 110 mln shares with a par value of UAH 10 in order to raise UAH 1.1bln (USD 144 mln). The question will be considered at an EGM on August 19.

The National Bank of Ukraine (NBU) has issued a resolution which regulates the order of lending to the Deposit Guarantee Fund (DGF).

On June 16, the EBRD Board approved a proposal to finance Megabank[MEGA UZ, U/R]. According to Anton Usov, spokesman of the EBRD Representative Office in Kyiv, the decision concerned a EUR 20 mln investment into Megabank’s equity and long-term senior loan.

According to the NBU, Ukrainian banks lost UAH 12 bln over 5M2009. The main driver for the losses was provisional expenses totaling UAH 28 bln. Net interest income was UAH 19 bln (46% growth YoY); net commission income, UAH 4.4 bln( -23% YoY); administrative expenses rose 7% YoY and totaled UAH 11.25 bln.

According to a note released late Friday afternoon, National Bank of Ukraine (NBU) has dropped the interest rate to 11% from the 12% imposed in April 2008.