Companies@UA: База компаний Украины

Kyiv, August 3 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) could prolong refinancing credits issued to Nadra Bank, Bank Kyiv, Finance and Credit Bank, Ukrprombank, Rodovid Bank and Ukrgasbank (all based in Kyiv) and Imexbank (Odesa) for up to seven years.

This is stipulated in resolution No. 438 of July 28, issued by the NBU.

"Resolution No. 438 foresees the prolongation of agreements on refinancing credits issued to the bank, which the central bank proposed to the Finance Ministry that the state recapitalize, for up to seven years," reads an NBU letter sent to the seven banks on July 31.

The letter says that interest rates equal to the NBU discount rate plus 0.5% would be paid under the said refinancing agreements.

"The procedure for amending agreements on refinancing credits and agreements on using mortgage as collateral, which would foresee the signing of annexes to the agreements, the giving of additional collateral, and if needed the replacement of collateral with more liquid collateral is to be issued later," reads the letter.

According to a report by the Ukrainska Pravda online publication, as of late June, the NBU's refinancing of Nadra Bank was estimated at UAH 7.1 billion, that for Bank Kyiv – UAH 1.01 billion, Finance and Credit Bank – UAH 2.64 billion of stabilization refinancing and UAH 2.44 short-term financing, that for Ukrprombank – UAH 540 million and UAH 860 million respectively, Rodovid Bank – UAH 2.12 billion and UAH 1 billion respectively, Ukrgasbank – UAH 1.23 billion and UAH 2.61 billion respectively and Imexbank – UAH 600 million and UAH 500 million respectively.

The government decided to capitalize three banks: Ukrgasbank (UAH 3.1 billion), Rodovid Bank (UAH 2.809 billion) and Bank Kyiv (UAH 3.565 billion), sending state domestic loan bonds worth the said sum to their statutory capitals. Imexbank and Finance and Credit Bank rejected state aid.

The government indicated that it does not plan to recapitalize Ukrprombank, planning to transfer of individuals' deposits in the bank to one of the state banks.

The fate of Nadra Bank has not been determined.