Ukrgazbank's net loss equaled UAH 76.4 mln in 1H09

Ukrgazbank (UGZB) recorded a net loss of UAH 74.6 mln in 1H09, down from net income of UAH 64.4 mln in 1H08. The bank also said that its assets were down 18% yoy to UAH 12.1 bln and liabilities by 19% yoy to UAH 10.8 bln. Ukrgazbank received UAH 3.1 bln in local sovereign bonds into its charter fund earlier this month. NBU officials have said it could be removed from temporary administration by as early as the end of July. Andrii Parkhomenko: Regardless of the bank’s financial results in 1H09, we remain positive on Ukrgazbank after it received the UAH 3.1 bln equity injection from the Ukrainian government.