owner of more than 90% equity stake in Bank of Regional Development (BRR), Valery Ksenzenko is negotiating with three potential investors. In exchange for 85.3 million UAH. he was willing to cede a controlling stake in BRR, and possibly a portion of its business.

Now there are three potential investors, all originating from Ukraine. just finished an independent audit by Interaudit, and a couple of days will be available the results. By the end of the month, the first investor to take a decision. Our condition - to make a minimum of 85.3 mln. Plus, the old and new shareholders must take a number of obligations , - the temporary administrator BRR Andrew Yatsura.

Chief of the ratings of financial institutions Credit Rating Andrew Konoplyasty notes that the attraction of investors in the capital of the bank (especially the problem) - a process complexity. The Bank has obligations to creditors, so the regulator, as a rule, and insists on the continued support of financial institutions. Subscriptions for shares was public, and the owners of the bank or the administrator of the National Bank of Ukraine could not agree with potential investors. Such cases have been earlier, when investors refused to themselves to take additional commitments, or their proposed scheme have been risky for the bank's depositors, - said Mr. Konoplyasty.

In addition, June 12, Credit-Rating withdrew an assessment of the bank. In 2008, the forecast rating BRR was changed to negative, and in January this year, it lowered to the level of speculative (BB-with negative outlook). Our agency has suspended the bank's credit rating because of nepodachi information, and only in June 2009 it was withdrawn , - explained Andrew Konoplyasty.

At 1 January the bank's assets amounted to 1,123 bln., the obligation - 1,025 billion UAH., capital - UAH 97.399 million. April 27 was to be held meeting of shareholders of the bank, which was scheduled to approve the increase of the statutory fund to 85.317 mln. - Up to 170 mln.

According to Andrew Yatsury, today the bank regulatory capital is negative (before the crisis amounted to 110-115 mln.), and 85.3 mln. will enable it to comply with regulations and make payments. In doing so, reduce the capital by decree NBU № 225 will not, and simply increase the authorized capital. However, it will be just the beginning, because the hole in the balance of institutions is 150-220 mln. - Said Mr. Yatsura.

Probably for the resumption of the solvency of the bank would require at least 100 million UAH. (if there is no denomination of shares) that would cover about a quarter of the deposits of the population. Unfortunately, the current account and the amount unpaid on the calendar of payments, we have not seen - Andrew Konoplyasty stresses.

that a bank collapse of the high risks, according to Andrew Yatsury, was immediately communicated to shareholders. The Bank could do without the interim administration, if the owner and chairman of the board initially did not go to the acute conflict, - said Mr. Yatsura. He noted that in the набсовета BRR and the government have been failures: the first under-supervised operations of government, a retired predpravleniya prevent risky operation. Deliberate withdrawal of the assets did not exist, but early returns deposits was already then, when doing so was not - said the temporary administrator of BRR. Obviously, it is understood that Svetlana Korotaeva, instead of March 19, was appointed acting Igor predpravleniya Gerich. Elaborate he managed just four days - March 23, the NBU has introduced BRR temporary administration.

It is estimated

Andrew Yatsury, 120-130 mln. can be restructured. Moreover, 32 million UAH. has re. As a result, by the end of the year the bank can enter the lucrative job, although for some time after entering the new owner to continue the interim administration. But under the financial recovery program will ask for additional NBU refinancing. Today, the bank allocated 60 million UAH., Including 3.1 mln. - After entering the interim administration.

New

shareholder may bring a few things: You do not have to spend EUR12 million, and wait 9-12 months to create a new bank, as well as the concentration of more than 90% of the shares of the bank are concentrated in the hands of one shareholder - the head of the construction corporation City Valeria Ksenzenko.

According to Andrew Yatsury, the current holder of the bank is willing to give up the new investor a controlling stake in the bank. Now the range of 50-100%. I do not know the details of negotiations, but not excluding the option that the new partners can talk about a partial assignment of the ownership of the assets of the owner, - stressed the temporary administrator of BRR.

He estimated that the financing of the corporation City is directed approximately 35% of the assets of the bank. However, the quality of these loans remains good, and paying for them in a timely fashion.

At Credit-Rating adding that the bank as a whole, there is a high concentration of risk on one borrower. According to information available in mid-2008 in the construction industry has been centered around one third of the loan portfolio yurlits that there is a critical indicator for small finuchrezhdeny. And the volume of transactions with related parties (which is a CSI City ), until recently, been small . But the concentration of bank loans for individual borrowers has been significant. In these concentrations the quality of bank assets may significantly deteriorate due to problems with repayment of loans of individual clients , - concluded Andrei Konoplyasty.

Sergei Lyamets

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