Nadra Bank to return portion of deposits beginning August 10

When the half-year moratorium on satisfying demands from its creditors is lifted on August 10, Nadra Bank (NADR) will begin repaying a portion of deposits, the bank’s temporary administrator, Valentina Zhukovskaya said yesterday, according to Kommersant. Of the about UAH 8.3 bln owned to depositors, the bank will return about UAH 1.6 bln by end-2009. Zhukovskaya said that this will enable clients to obtain about 20-50% of their deposit amounts. Andrii Parkhomenko: The announcement that the bank will start to repay deposits could mean that negotiations on the bank’s recapitalization by the government are nearing an end. Otherwise, we have doubts that deposits will be returned as promised by Nadra.