Nadra, Ukrprombank could be nationalized in a month

Prime Minister Yulia Tymoshenko said yesterday in a TV interview that Ukraine’s Nadra Bank (NADR) and Ukrprombank could be nationalized within a month. In other news, the National Bank of Ukraine yesterday said that it extended the moratorium on Nadra and Ukrprombank, in addition to several smaller Ukrainian banks, repaying obligations to creditors by another six months. Also yesterday Acting Finance Minister Ihor Umanskiy said that the Cabinet of Ministers might be a party to debt restructuring negotiations at Nadra Bank in order to accelerate the talks, which must be concluded before the government considers recapitalizing the troubled lender. Andrii Parkhomenko: We doubt that the government will be able to nationalize these banks within a month, and if it even manages to accomplish it by yearend, it would be a success. Even with banks that had no problems with debt restructuring – Rodovid, Ukrgazbank, and Bank Kyiv – the nationalization process took far longer.