KIEV, Dec. 25 – The National Bank of Ukraine has expressed surprise over a cabinet decision regarding the transfer of depositors of the troubled Nadra Bank to state-owned Rodovid Bank, as earlier the cabinet many times said that it intended to recapitalize Nadra Bank using budget funds.

"For the whole year re-capitalization was a beneficial thing. This was confirmed at talks with the International Monetary Fund, when the cabinet declared its readiness to capitalize the bank if 85% of its debt to creditors were restructured. When the agreement with creditors was drawn up, suddenly an issue of the transfer [of the bank's assets] has been raised," said Serhiy Kruhlyk, the director of the department for foreign economic relations at the NBU.