Cabinet approves transfer of deposits from Nadra to Rodovid

Yesterday the Cabinet of Ministers approved of the transfer of private individuals’ deposit accounts and the assets of Nadra Bank (NADR) to Rodovid Bank (RODB). Earlier this month Prime Minister Yulia Tymoshenko said about 600 ths deposit accounts, worth about UAH 8.7 bln, would be taken over by Rodovid. Tymoshenko, at that time, said that neither troubled Nadra nor Ukrprombank will be nationalized. Mykyta Mykhaylychenko: Nadra was the last large troubled Ukrainian bank whose fate was uncertain. A decision on its future will facilitate the return of the population’s confidence in the domestic banking system.