The FINANCIAL — Ukrhazbank, ranking among Ukrainian largest commercial banks, on July 10 started redeeming 100% of mature deposits and deposits with early termination of deposit agreements.
Ukrhazbank provisional administrator Oleksandr Sokolov announced this at a press conference held at the press center of the Ukrainian News agency.
"Since Friday [July 10], the bank started executing the main mission of the recapitalization endorsed by the government: redemption of liabilities before depositors in full. This means each depositor in the entire system of Ukrhazbank can apply to the bank after the end of the deposit agreement or ahead of the expiration and receive one's deposit and interests without obstacles," he said.
According to Sokolov, individuals' deposits worth UAH 201 million have become mature since the declaration of the recapitalization of the bank. Meantime, the factual outflow since then was UAH 20 million or only 10% of the sum has been withdrawn after the expiration of the deposit agreements.
"Thus, one can make a conclusion that the level of trust of depositors in the bank with a [controlling] share of the state in the capital has grown," Sokolov said.
According to the provisional administrator of the bank, restrictions and limits on payment cards of clients of Ukrhazbank have been lifted.
Depositors with funds on cards can receive their funds both at cash machines and at cash desks of the bank.
As Ukrainian News earlier reported, the Finance Ministry has said that one of the largest Ukrainian banks, Ukrhazbank, is likely to be withdrawn from the provisional administration by the end of July 2009.
On June 11, the National Bank of Ukraine took Ukrhazbank into provisional administration. The Ukrainian central bank did not introduce any moratorium on claims of creditors.
Oleksandr Sokolov has been appointed the provisional administrator of the bank.
Discussion about this post