Opinion: Course of the dollar might rise due to the elimination of Ukrprombank
Payment of deposits to customers Ukrprombank could lead to a devaluation of hryvnia and rising inflation, said Maria Maiboroda, senior analyst of investment company Phoenix Capital.
According to a source in the Ministry of Finance, all investors-natural persons Ukrprombank will translate into Oschadbank and closing obligations to them by an additional issue OVDP. Assuming that the 7 billion UAH (approximate amount of contributions of natural persons in the Bank - Ed.) At one point come to the spot market, we can expect higher inflation and the jump spot dollar, - said Maiboroda.
According to experts, is the preferred option in which Oschadbank becomes the agent for payment of deposits from the Fund to guarantee the deposits of individuals. Otherwise (in case of implementation of the scheme described in OVDP) produced a situation where the state simplytakes over the domestic commercial bank debt, and this is not part of the list of functions of the state nor the budgeted costs, stresses Maiboroda.
Recall July 23, it became known that the financial authorities have decided to eliminate Ukrprombank. This will cost the State much cheaper than the bank's financial rehabilitation.
Ukrprombank registered in 1989. According to the NBU, as of early April, the bank's assets amounted to 9,8 billion UAH., Capital - UAH 2.5 billion., The legal persons - 0,9 billion UAH., Individuals' funds - 7.3 billion grn. Net loss for the bank st quarter of 2009 amounted to 4,4 billion UAH.
Regional Network Ukrprombank consists of 26 branches and 272 branches, the number of ATMs - 254, the number of banking terminals - 515, the number of POS terminals - 394. The bank has about 1 million depositors individuals.
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