Банки

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.

On June 12, the Cabinet of Ministers decisions concerning the recapitalization of three banks were finally disclosed.

Government has approved a total of UAH 9.57 bln (USD 1.26 bln) in aid for 3 Ukrainian banks; Rodovid Bank [RODB UZ, U/R], Ukrgazbank [UGZB UZ, U/R] and Kyiv Bank. Government has approved a total of UAH 9.57 bln (USD 1.26 bln) in aid for 3 Ukrainian banks; Rodovid Bank [RODB UZ, U/R], Ukrgazbank [UGZB UZ, U/R] and Kyiv Bank.

EBRD has announced its intention to provide a USD 80 mln subordinated loan to Forum Bank [FORM UZ, N/R].

EBRD has announced that it will lend USD 100 mln to Ukrsibbank, Ukraine’s 4th largest bank by assets, via a 10-year subordinated loan. The EBRD Board of Directors meeting slated to approve the deal is set for June 30, 2009.

According to a number of sources Ukrgazbank, Rodovid Bank and Kiev Bank will be the first targets of Ukraine’s bank recapitalization program.