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Ukrinform Nationalized Rodovid bank starts paying back Ukrprombank’s frozen deposits.

Hundreds of Ukrainians lined up on Nov. 23 at branch offices of Rodovid Bank, including this one in Kyiv, to reclaim deposits that were frozen after the global financial crisis hit Ukraine, sending the country’s bank sector into a deep freeze. Rodovid Bank is one of three banks nationalized by Ukraine’s government this year after experiencing solvency problems. This bank has since been injected with fresh liquidity by Ukraine’s government, but it is being tested again after the frozen deposits from another of Ukraine’s biggest and most troubled banks, Ukrprombank, was transferred to it upon de facto liquidation. Having received the frozen deposits and an additional Hr 5.6 billion in state recapitalization assistance, Rodovid started gradually refunding the irate citizens on Nov. 23. The bank is only capable of returning some Hr 150,000 per day and it remains unclear how much time it will take to fully refund disgruntled clients. The government has said it plans to privatize banks and banking assets it took over in the future to recover losses incurred from bailing them out.