OREANDA-NEWS. On 07 April 2009 Ukrprombank announced that it is currently looking for an additional financing from an institutional investor. The bank is wiling to sell either the minority or majority stake to potential investors. Note that the temporary administration was set in Ukrprombank on 21 January 2009. According to the estimation of its temporary administrator the bank needs around UAH 3,5-7bn, while it  is still a candidate to be recapitalized by the government.

Millennium Capital sees the news to be POSITIVE for Ukrprombank, since the delay in its recapitalization by the government may be prolonged for an indefinite period, while the attraction of any moderate amount of funds will assist in its operational recovery. Millennium Capital estimates the most likely investment to Ukrprombank to arrive from Russia, since the bank has a wide network within a country, thus approaching the principals of its activity to Russian banks. Meanwhile, Western banks, such as Deutsche bank (Germany) and HSBC Bank Plc (Great Britain), which announced their entering Ukraine in 2009, prefer starting their own business from the very beginning.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.