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.