OREANDA-NEWS. On 14 April 2009 was UFC Capital released a list of Top-20 most reliable Ukrainian banks.

This report contains the updated assessment of the banks reliability based upon the banking institutions financial statements for February 2009. No significant changes have taken place in their rating – the leader still is the state-owned Ukreximbank. 

Provisional administrations

First of all we would like to remind the reader that our recommendation not to deposit cash with the banks under provisional administration of the NBU remains effective. Despite that these banks are not always the worst option for the depositor, we believe that these financial institutions do not offer sufficient compensation for the risk not to get your money back. Presently, the provisional administrations are introduced in 11 banks. 

The banks under the provisional administration of the NBU

•  Bank of Regional Development;

•  BIG Energia;

•  Kyiv;

•  Nadra;

•  Nationalniy Credit;

•  Odesa-Bank;

•  Prichernomorie;

•  Rodovid Bank;

•  Transbank;

•  Ukrprombank;

•  Zakhidcombank.

Meanwhile, as we predicted in out previous report the NBU withdrew its provisional administration from Prominvestbank as soon as its operations stabilized after its stake was sold to a Russian investor.

The additional negative factor is that  Private Deposits Insurance Fund  has transferred a number of banks to the temporary participants list. In practice it means that in case these banks go bankrupt, their depositors will not be entitled to any compensation from the Fund. At the moment when this report was prepared the following banks were transferred to the temporary participants category: Ukrpormbank, Nadra, Prichernomorie, Odesa-Bank, Natsionalniy Credit and Financial Union Bank, while the last one has no provisional administration of the NBU.