Banking

According to Acting Finance Minister Ihor Umanskiy, the seven banks to be recapitalized by the Ukrainian Government are: Ukrprombank, Nadra Bank, Imex Bank, Ukrgazbank, Finance and Credit Bank, Rodovid Bank, and Kyiv Bank.

Raiffeisen Bank Aval [BAVL UZ, U/R] announced that it has repaid the final USD 100 mln tranche of an overall USD 500 mln syndicated loan, which was attracted in April 2007 for a period of two years at LIBOR +1.2%.

According to Wilhelm Nüse, a member of Commerzbank Group's regional council for Eastern and Central Europe and the Vice-Chairman of the supervisory council of Forum Bank [FORM UZ, U/R], Commerzbank intends to continue its development in Ukraine and is going to increase FORM’s statutory capital by UAH 500 mln in 2009.

According to the National Bank of Ukraine (NBU), the amount of deposits declined by UAH 6.5 bln (2.04% MoM) in March, whereas, in February, the outflow had reached UAH 19 bln (5.6% MoM). In particular, UAH-denominated deposits fell by UAH 2 bln (-1.1% MoM or -12.8% YtD), FX deposits dropped by UAH 4.5 bln (-3.1% MoM or -11.5% YtD). Total deposits fell by 12.3% or 43.8 bln YtD and, as of April 1, equaled UAH 313.9 bln.

According to the website of the European Bank for Reconstruction and Development (EBRD), Ukreximbank, a 100% state-owned bank, is going to receive a subordinated loan for up to USD 250 mln from the EBRD for a term of up to ten years.

According to Petro Poroshenko, the Head of the NBU Council, Raiffeisen Bank Aval [BAVL UZ, U/R] has received UAH 1 bln in refinancing for the purpose of providing loans to Ukrainian agricultural enterprises.

As Sokrat previously reported, Ukrsibbank is the one of the first five banks that will be receiving funding from the EBRD. Yesterday, Serhiy Naumov, the Chairman of the Board of Ukrsibbank, announced that the bank intends to attract USD 100 mln on the terms of subordinated loan from the EBRD in May. Due diligence shall commence on April 1.

According to the Ukrainian newspaper “Delo”, the operational committee of the EBRD has approved the decision about providing subordinated debt to five Ukrainian banks: Ukrsotsbank [USCB UZ, U/R], Forum Bank [FORM UZ, U/R], Megabank [MEGA UZ, U/R], Ukrsibbank and Ukreximbank.

The National Bank of Ukraine (NBU) is going to provide UAH 1 bln in refinancing funds to Raiffeisen Bank Aval [BAVL UZ, U/R] for the purpose of providing loans to Ukrainian agricultural enterprises.

After affirming the long- and short-term counterparty ratings for Ukrsotsbank [USCB UZ, U/R] at CCC+/C with a negative outlook, the Standard & Poor rating agency has withdrawn Ukrsotsbank’s ratings at the bank’s request.