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10:10
UKRGASBANK CO-OWNER, MP HORBAL SAYS PREMIER'S ACCUSATIONS OF ABUSES AT THE BANK GROUNDLESS

Kyiv, July 31 (Interfax-Ukraine) – Kyiv-based Ukrgasbank's co-owner, Regions Party faction MP Vasyl Horbal, has said that the Ukrainian premier's accusations of abuses at the bank are groundless, Horbal's press service reported.

"State officials should be extremely careful about making statements which are sometimes wrong and have no grounds," the press service quotes Horbal as saying.

As reported earlier, Ukrainian Prime Minister Yulia Tymoshenko said that the Regions Party is involved in alleged abuses at Ukrgasbank.

Horbal believes that such statements by the premier won't affect the bank's regular operations. He noted that Ukrgasbank's stockholders are partners of the government and in future are going to use the right to buy back the bank's stocks from the state.

As reported earlier, during the program of bank recapitalization with budget funds, the government received control over 81.58% of stocks in Ukrgasbank.

Ukrgasbank was founded in 1993. It ranked 17th in terms of overall asset, worth UAH 12.496 billion, among the 182 banks operating in Ukraine as of April 1, 2009, according to the National Bank of Ukraine.

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