OREANDA-NEWS. February 11, 2010. On 10 February 2010, Nadra Bank refused to transfer its retail deposits, as well as respective assets of around UAH 7bn to Rodovid Bank . This resulted from the announcement of Mr. Firtash to recapitalize Nadra to the tune of UAH 6bn in return for the maintenance of the retail deposits on the Nadra’s balance. The final decision on NADR’s recapitalization is to be taken today at the meeting of NADR’s Board of Directors.

Millennium Capital believes that this news proves the intention of NADR’s management to rehabilitate the bank. Millennium Capital estimates that UAH 6bn will suffice to redeem the retail deposits of Nadra in view of the expiration of the moratorium on the return of deposits. Still, the bank may be in for major difficulties in the redemption of its remaining obligations in the mid term.