Банки

Volodymyr Krotiuk, the Temporary Administrator of Prominvestbank, confirmed that the bank’s owners failed to conduct the additional issue of shares scheduled as a part of the required financial readjustment of this bank.

As Ukrsotsbank [USCB UZ, U/R] has announced in a statement, the bank has repaid a syndicated loan of USD 200 million.

The National Bank of Ukraine (NBU) has cancelled the anti-crisis resolution No. 319 of October 11, 2008, which was about additional measures on the activities of banks and declared a moratorium on the early withdrawal of deposits, as well as introducing not so tough limitations. Its respective decision is stipulated in bank resolution No. 413 of December 4, 2008, which took effect upon being signed.

The National Bank of Ukraine (NBU) has changed its requirement of banks for the daily allocation of funds of obligatory reserves to a correspondent account in the central bank, and its requirement on the formation of reserves using funds raised in the national and foreign currency.

Kredobank [ZUKB UZ, U/R] is going to obtain a USD 90 mln loan from its parent structure PKO Bank Polski SA, according to Kredobank’s press service.

The Multilateral Investment Guarantee Agency (MIGA), which is the political risk insurance arm of the World Bank Group, said it has issued its fourth guarantee in support of the banking sector in Ukraine. The USD 247 mln guarantee is covering a shareholder loan from UniCredit Bank Austria AG to Joint Stock Commercial Bank for Social Development Ukrsotsbank [USCB UZ, U/R] – Ukraine’s fourth largest bank.

Ukrsotsbank [USCB UZ, U/R] has issued its report on the banks activities for the first nine months of 2008 in accordance with Ukrainian accounting standards. The bank increased its net assets by 24.1% in January-September 2008, establishing the value of net assets at UAH 38.753 bln (UAH 6.61 / USD 1).

In November 2008, Nadra Bank [NADR UZ, N/R] was on schedule with the repayment of a USD 100 mln debut Eurobond issue and a USD 130 mln syndicated loan that it has acquired. The Eurobond issue, which was arranged by Dresdner Kleinwort Wasserstein and the UBS Investment Bank, was successfully placed in 2005 at a rate of 9.5%.

According to Nadra Bank’s press service, Group DF became the major investor in Nadra Bank on November 19, 2008. "Nadra Bank has attracted a large investor, Group DF, a private international group of companies. Today, the bank possesses a stronger position than earlier, due to the synergy of a successful banking brand and a strong industrial group," states the press release.

Nadra Bank has paid off a syndicated loan worth USD 130 mln on time, according to the bank`s press service. The syndicated loan was provided by BayernLB and Fortis Bank SA/NV. The credit was provided at a one-year rate of Libor + 1.5%. The initial amount of the loan was USD 100 mln, but the amount was subsequently increased during the term of its syndication.