NBU to transfer another UAH 1.8 bln to Rodovid Bank

The National Bank of Ukraine will allocate another UAH 1.8 bln to Rodovid Bank (RODB), Prime Minister Yulia Tymoshenko said on Friday at a meeting with bank account holders. Tymoshenko said that as of today (August 3) depositors would be able to retrieve money from accounts held at the bank. Tymoshenko said that total deposits amounted to UAH 2.2 bln, less than the UAH 2.8 bln in recapitalization funds given to the bank. In a symbolic move, Tymoshenko said that the payments for government employees’ salaries would be made through Rodovid beginning today. Andrii Parkhomenko: The impact of the refinancing deal on the bank will depend on the timing of the deal: the longer the better. Irrespective of the timing, we expect that the interest rate on the refinancing will be lower than if the bank tapped funds from the market.