Market Analysis

The deal to merge three or four troubled banks may be completed in the middle of November. They are united by one foreign investor, - said a source close to the negotiation process. Among the candidates for the merger at the moment banks are considered BIG Energy, RDB, Dnister and Zakhidinkombank.

Delo reported that last week, investors have been meeting with some leaders of troubled banks to select the financial institution to merge. Currently scheduled to meet temporary administrators selected banks with the investor, which will discuss the details of the transaction. We have tomorrow (October 20. - Ed.) On the part of the association will meet with the investor - recognizes the temporary administrator RDB Andrew Yatsura.

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most investors are only aware that they may be an American company, which is currently interested in the Bank BIG Energy . According to cases, the major shareholders of the financial institution - the brothers Gregory and Igor Surkis - who had previously stated its readiness to inject the necessary amount to the bank, abandoned the venture and are ready to sell its share (about 61% of shares). Surkis thought and said that they are not ready to give money to the bailout, they are now priority Euro-2012. A new investor from the United States is ready to buy the whole bank, and already this month has to bring in its authorized capital of 300 million hryvnia, - says a source familiar with the situation in the bank.

According to experts, there are several options for further developments. The first - the creation based on the combined bank facility, which will specialize in working with problem assets. Perhaps, the bank created by some kind of investor who will buy up distressed assets from large discount, - means the chief of analytical department of company Foyil Securities Agshin Mirzazade.

According to the analyst of investment company Phoenix Capital Andrew gestation, the new institution would not necessarily focus on work with problemkoy. The most logical option - it is buying from the U.S., and they have experience of working with toxic assets of the four troubled banks at a very low price. Then they work with problem assets, merge into one bank and get one big healthy banks. This option would cost cheaper than buying a similar-sized financial health of the Ukrainian bank .

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