Банки

The shareholders meeting of Rodovid Bank [RODB UZ, N/R] – the 19th biggest bank in Ukraine in terms of assets – decided to increase the bank’s statutory fund 161% by UAH 700 mln (USD 90.9 mln) to UAH 1.135 bln (USD 147.4 mln).

The Austria-based Slav AG Company and Russia's Vnesheconombank were expected to transfer UAH 1.1 bln to PromInvestBank by the end of December 30, according to Interfax-Ukraine.

According to Interfax, at a meeting on Saturday, the Ukrainian Cabinet of Ministers took a decision barring banks from confiscating the apartments of citizens that were bought under loan agreements with banks if, at least, the amount covering the interest on those loans is repaid.

The National Bank of Ukraine (NBU) has increased the reserve requirements for foreign currency deposits as of January,5, with this change being outlined in resolution #442. The norm of the reserve has increased from 3% to 4% for deposits with a fixed period and from 4% to 7% for callable deposits. The norm of the reserve for UAH deposits was not changed.

The NBU is restricting currency loans for borrowers who don’t have an income set in foreign currency, which mainly applies to consumer and mortgage loans, according to the National Bank order No. 406 issued on December 1 and registered by the Justice Ministry on December 17, which comes into effect on December 28.

The European Bank for Reconstruction and Development (EBRD) has granted USD 75 mln to Raiffeisen Bank Aval [BAVL UZ, U/R] on the conditions of subordinated debt. A fund provision contract was signed on December 22. No information about the interest rate was disclosed.

Rodovid Bank [RODB, U/R] plans to increase its statutory capital by 57%, or UAH 250 mln, to UAH 685 mln through an additional issue of shares, according to a report issued by the bank. According to this report, the increase in the bank's statutory capital will be put on the agenda of a general meeting of its shareholders, which is scheduled for January 30, 2009.The bank plans to issue additional shares with a face value of UAH 1,000.

Commerzbank AG is planning to buy an additional 15% share in Forum Bank[FORM UZ, U/R] within the next three years, according to Wilhelm Nuese, the Deputy Chairman of the Supervisory Council of Forum Bank. “There is an option to buy an additional 15% in the Ukrainian bank within three years. This way we are planning to concentrate a 75% plus one share in the Ukrainian bank. We have many plans to develop our business here,” he stated.

The Provisional Administrator of Prominvestbank Volodymyr Krotiuk intends to suggest that the Cabinet of Ministers, the EBRD and the IFC become shareholders in Prominvestbank and take part in its financial recovery.

Volodymyr Krotiuk, the Provisional Administrator of Prominvestbank, intends to approve the financial recovery program of the bank with state involvement.