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13:52
GOVERNMENT CONSIDERS IT POSSIBLE TO NATIONALIZE UKRPROMBANK, NADRA BANK WITHIN ONE MONTH

Kyiv, August 6 (Interfax-Ukraine) – The Ukrainian government sees the possibility of the nationalization of large Kyiv-based Ukrprombank and Nadra Bank within a month, Ukrainian Prime Minister Yulia Tymoshenko said in an interview with some Ukrainian TV channels on Thursday.

"As the way out we see now is that Nadra and Ukrprombank should be nationalized within a month… these banks should become state-owned and people should start receiving their money back," she said.

Yet, she said, both Ukrprombank and Nadra Bank are close to bankruptcy.

However, the nationalization of these two banks is possible due to the adoption in July of a special law on the support of financial establishments, which was initiated by the government.

Moreover, the premier added that up to 15 small-sized banks are facing hardships: the law provides the authorities with a necessary tool to operate assets and deposits at those banks.

"It will take a bit more time – from two to three months there. But we'll cope with that as well," she added.

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