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National Bank to turn Rodovid into bad bank

National Bank to turn Rodovid into bad bank

19 September 2011

The National Bank of Ukraine asked the Cabinet of Ministers of Ukraine to turn Rodovid Bank into a bad bank for problem assets, according to a statement released on Friday. The NBU’s board voted on September 15 to end its temporary administration at the bank and to reorganize it into a bank for problem assets. Rodovid was one of the three largest banks the state nationalized in 2009 in a recapitalization deal that saw the state take over a 99.97% stake; Ukrgazbank and Bank Kyiv were the others. Rodovid Bank was Ukraine’s #23 largest bank by assets with UAH 9.6 bln as of July 1, 2011 according to the NBU.

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