OREANDA-NEWS. September 14, 2009. The temporary administration prematurely left Ukrgasbank < UGZB UZ U/R >. The temporary administrator of the bank O. Morozov, announced that UGZB satisfied all the NBU's requirements, while Naftogaz Ukrainy would become the largest client of the bank. Also the administrator expects that the government will prolong UGZB's refinancing loan (UAH 1.2bn) to 7 years.

Millennium Capital sees the news to be neutral for UGZB, since the government remains major shareholder of the bank (84%), which suggests that the lending activity of the bank, namely loans to Naftogas, will be determined by the government.

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 tickets selling for its flights due to high arrearage to the creditors of the company.