Fitch international rating agency has said it is alarmed at the absence of a strategy for the development of banks that were recapitalized using budget funds, the director of the financial organizations department at Fitch, Olha Ihnatyeva, said at the Fitch seventh annual conference in Ukraine in Kyiv on Wednesday.
“Three banks nationalized by the state in the crisis period are actually not operating, and their development strategy is unclear,” she said, adding that out of these banks Rodovid Bank became a bank for bad assets, but the process has not been finished.
Three banks in Ukraine – Ukrgasbank, Bank Kyiv and Rodovid Bank – were recapitalized using budget funds.
As reported, in September, NBU Governor Serhiy Arbuzov said that Bank Kyiv, which is under the control of the government, would be divided between other banks recapitalized using budget funds. The non-working part of assets of the bank will be transferred to the bank of bad assets for state banks created on the basis of Rodovid Bank. The living part of business will be joined to Ukrgasbank.
Bank Kyiv was founded in 1993. As of early April 2012, the Finance Ministry of Ukraine held a 99.9369% stake in the bank.
Ukrgasbank was established in 1993. As of early April 2012, the Finance Ministry of Ukraine held a 92.9998% stake in the bank.
Rodovid Bank was founded in 1990. As of early April 2012, the state held a 99.9937% stake in the bank.
According to the National Bank of Ukraine, as of July 1, 2012, Rodovid Bank was 26th with UAH 8.964 billion in total assets, Ukrgasbank was 16th with UAH 20.898 billion, and Bank Kyiv was 67th with UAH 2.468 billion out of the 176 operating banks in Ukraine.
