Rodovid Bank to approve assets received from Ukrprombank

YesterdaytroubledUkrprombank finalized the transfer of UAH 7 bln in deposits from individuals and corporations to Rodovid Bank (RODB), which was recapitalized by the government earlier this year. Rodovid Temporary Administrator Sergiy Shcherbin said in an interview this morning with daily Kommersant that the bank will only take on loans from Ukrprombank that are between 31 and 60 days overdue to fund these liabilities. However, if the total amount of loans it accepts is not enough, then Shcherbin said Rodovid would become an Ukrprombank creditor and participate in its liquidation. In addition, the government already agreed to increase Rodovid’s charter fund by another UAH 5.6 bln to fund these new liabilities. Hence, among large troubled banks, only Nadra Bank’s (NADR) fate remains uncertain. Nadra is still holding negotiations with foreign creditors on restructuring its debt, which is its main obstacle for recapitalization by the government.