Vlad bails out Ukio Bankas

[greenginger]

A week or so ago it was mentioned on here that the mighty financial institution Ukio Bankas had borrowed 50 million litas ( about £12 million )

It's on the Banks web site that the loan was made by Vlad himself. Things must be pretty bad if the owners are having to pump money in.

I wonder where Vlad borrowed the cash ? Does this mean the Jambos will only have to repay £5 million in February.

[Dashing Bob S]

A week or so ago it was mentioned on here that the mighty financial institution Ukio Bankas had borrowed 50 million litas ( about £12 million )

It's on the Banks web site that the loan was made by Vlad himself. Things must be pretty bad if the owners are having to pump money in.

I wonder where Vlad borrowed the cash ? Does this mean the Jambos will only have to repay £5 million in February.

He's only loaning it to himself.

[Kaiser_Sauzee]

I borrowed £500 from myself and struggled to repay it. I sent myself around to sort me out but I wouldn't let me in the door. I eventually got in and took the TV, DVD player and PS3. I'll be back in a week to see if I've got the money I'm owed.

[Cabbage]

a highly intelligent man is Mr Romanov

This clip shows just how bright the clown is.

http://www.lrytas.lt/videonews/?id=1...234545798&sk=1

[MrSmith]

I borrowed £500 from myself and struggled to repay it. I sent myself around to sort me out but I wouldn't let me in the door. I eventually got in and took the TV, DVD player and PS3. I'll be back in a week to see if I've got the money I'm owed.

pmsl!

:faf::faf:

hope you didn't hurt yourself in the process of recovering monies owed to yourself??

[Sergey]

VILNIUS, Dec 24 (Reuters)

Lithuania's central bank said on Thursday it has instructed locally-owned Ukio bank to strengthen its capital base in anticipation of a surge in bad debt provisions due to the impact of the recession.
The central bank also said in a statement that it allowed Ukio to increase its Tier 2 capital with a subordinated loan of 50 million Lithuanian litas ($20.73 million) earlier this month, but it still would not be enough.
"It's the right step, but it would not be enough. The bank should continue strengthening its capital," a member of the central bank's board told Reuters.
He did not say how much Ukio needs to raise its capital by.
The Lithuanian banking sector is dominated by Scandinavian banking groups as SEB and Swedbank, which said they would back their subsidiaries in the Baltic states, while the smaller local banks have to rely on own resources.
The central bank said in a statement that Ukio's capital base will be 571 million litas, including the subordinated loan of 50 million litas.
The seven-year loan was provided on Dec. 14 by the bank's major shareholder Vladimir Romanov, who also owns Scottish soccer club Hearts.
Ukio, the seventh-largest bank in the country, in November reported its nine-month net group profit fell to 6.4 million litas from 83.8 million litas during the same period in 2008.
The bank said its capital adequacy ratio was 8.6 percent at the end of the third-quarter compared to a minimum requirement of 8 percent, and compared to its peers' average of 13.45 percent.
Lithuania has so far not need to provide assistance to its banks so far, despite the biggest economic recession since early 1990s.
Neighbouring Latvia had to take a 7.5 billion euro ($10.74 billion) rescue package arranged by the International Monetary Fund a year ago, after it bailed out its second-largest bank Parex at the end of 2008.
The Finance ministry expects Lithuania's economy to fall 18.2 percent this year and 4.3 percent in 2010, but the SEB bank said recently it saw the economy growing 1 percent next year. ($1=2.412 Lithuanian Litas) ($1=.6986 euros) (Reporting by Nerijus Adomaitis; Editing by Mike Nesbit and Rupert Winchester)

[NOLA]

I borrowed £500 from myself and struggled to repay it. I sent myself around to sort me out but I wouldn't let me in the door. I eventually got in and took the TV, DVD player and PS3. I'll be back in a week to see if I've got the money I'm owed.

funny as:top marks

[The Harp]

I borrowed £500 from myself and struggled to repay it. I sent myself around to sort me out but I wouldn't let me in the door. I eventually got in and took the TV, DVD player and PS3. I'll be back in a week to see if I've got the money I'm owed.

Takes a lot these days to have me laughing to myself but you managed it. :faf:

[Hibercelona]

I borrowed £500 from myself and struggled to repay it. I sent myself around to sort me out but I wouldn't let me in the door. I eventually got in and took the TV, DVD player and PS3. I'll be back in a week to see if I've got the money I'm owed.

Its true...

Gary Mackay told me the full story. He said he seen the whole incident on the radio. :agree:

[Viva_Palmeiras]

Following on from the Zemmama-Mia thread...

I don't wanna talk
about the things we've gone through
though its hurting me
now its history
I've played all my cards and thats what youve done too
nothing more to say
no more ace to play


The Owner takes it all
The loser has to fall...


PS. Can we have this for final whistle @ the Derby (in the event of a post win)

[hibbiedon]

pmsl!

:faf::faf:

hope you didn't hurt yourself in the process of recovering monies owed to yourself??

If iou did then sue yourself, that will teach you a lesson

[whiskyhibby]

I see they also renegotiated the terms of a further loan for a similar size prior to Mad Vlads Cash Injection, looks liken they have a liquidity problem?


:jamboak::jamboak::jamboak:

Is The Romanov Dynasty about to fall?:bye::bye:

[Sergey]

Not looking quite so rosy for Ukio (but Fedotovas only said 2 weeks ago that Ukio were profitable)

Ukio to Announce Loss (http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=238746)

[matty_f]

Not looking quite so rosy for Ukio (but Fedotovas only said 2 weeks ago that Ukio were profitable)

Ukio to Announce Loss (http://www.nasdaqomxbaltic.com/market/?pg=details&instrument=LT0000102352&list=2&tab=news&news_id=238746)

Sergey, you're regularly decried by the Yams on knockedback as someone who goes on and on about the finances and that.

I imagine that the fuds will be quick to challenge your statement here, so I don't suppose you could back up what you posted with a quote from Fedotovas, just to show that you're not misquoting him? :greengrin

[greenginger]

I think it will only require a very small volume of loans to be lost to drop Ukio's capital adequacy below the minimum set by the Lith. Government.

I don't know the consequences for the Bank but if it were where I kept my savings I'd be making a withdrawal pronto.

That £17 million due by the Jambos next month might be be desperately needed. :devil:

[Dashing Bob S]

I think it will only require a very small volume of loans to be lost to drop Ukio's capital adequacy below the minimum set by the Lith. Government.

I don't know the consequences for the Bank but if it were where I kept my savings I'd be making a withdrawal pronto.

That £17 million due by the Jambos next month might be be desperately needed. :devil:

Yes it might well indeed! Roll on Feb.

[I'm_cabbaged]

I think it will only require a very small volume of loans to be lost to drop Ukio's capital adequacy below the minimum set by the Lith. Government.

I don't know the consequences for the Bank but if it were where I kept my savings I'd be making a withdrawal pronto.

That £17 million due by the Jambos next month might be be desperately needed. :devil:

And how do they pay it? The PBS isnae even worth that amount. :confused:

[greenginger]

And how do they pay it? The PBS isnae even worth that amount. :confused:


Try telling that one to a Sheriff's Officer. Do they still have warrant sales?

How much for Nade !!!!!!! :greengrin

[Dashing Bob S]

And how do they pay it? The PBS isnae even worth that amount. :confused:

They put Palazuelos in a set of stocks near the heart of midlothian in the Royal Mile and charge a fiver a head to go past and put the nut on him. Take them about a week to raise the money.

I'd pull the switch myself, and sleep easily, etc etc.

[Beefster]

Sergey, you're regularly decried by the Yams on knockedback as someone who goes on and on about the finances and that.

I imagine that the fuds will be quick to challenge your statement here, so I don't suppose you could back up what you posted with a quote from Fedotovas, just to show that you're not misquoting him? :greengrin

http://www.heartsfc.premiumtv.co.uk/articles/in-safe-hands-fedotovas-20091215_2241384_1902130

"Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe."

[I'm_cabbaged]

Try telling that one to a Sheriff's Officer. Do they still have warrant sales?

How much for Nade !!!!!!! :greengrin

So lets just say the bank calls in the debt, they would lose millions out of it, wouldn't they? :confused:

Is it not better for them to keep the yams afloat and get millions in interest which in time will put Vlad into a profit from the idiots that believe that they owe the debt to themselves?

It's all so confusing........ :greengrin

[bingo70]

Sergey, you're regularly decried by the Yams on knockedback as someone who goes on and on about the finances and that.

I imagine that the fuds will be quick to challenge your statement here, so I don't suppose you could back up what you posted with a quote from Fedotovas, just to show that you're not misquoting him? :greengrin


http://www.heartsfc.premiumtv.co.uk/articles/in-safe-hands-fedotovas-20091215_2241384_1902130

"Ukio Bankas maintains ambitious development plans and the bank remains profitable unlike most others in UK and elsewhere in Europe."

Not really sure what your getting at here, are you suggesting hearts fans have been lied to :confused:

Surely not, pressumably they'll be going absolutely mental about this on Kickback? Quite right they would be as well :agree:

[Hakim Sar]

So lets just say the bank calls in the debt, they would lose millions out of it, wouldn't they? :confused:

Is it not better for them to keep the yams afloat and get millions in interest which in time will put Vlad into a profit from the idiots that believe that they owe the debt to themselves?

It's all so confusing........ :greengrin

Spot on! why shoot the cash cow? Or is it the lame donkey. Clad giving the bank the loan is not actually a bad thing because it keeps the bank going :(

It's all small potatoes when u think HBOS had to dig out billions. When the economy increases again vlad will easily get his dosh back... it's not as if UKIO are spending the 12 mil to repay their own toxic debt - it's just capital - money in the bank incase of emergancies and to sustain the value of the bank so it can borrow again in future

[I'm_cabbaged]

Spot on! why shoot the cash cow? Or is it the lame donkey. Clad giving the bank the loan is not actually a bad thing because it keeps the bank going :(

It's all small potatoes when u think HBOS had to dig out billions. When the economy increases again vlad will easily get his dosh back... it's not as if UKIO are spending the 12 mil to repay their own toxic debt - it's just capital - money in the bank incase of emergancies and to sustain the value of the bank so it can borrow again in future

Smart man when you think about it, put them further into debt so they can bump up the interest rate, it will be yams that'll be keeping the bank running. Or have I got the wrong end of the stick?

[Dr What If?]

There is talk of another debt for equity scheme to reduce the debt but I'm not sure how the maximum share for equity works

Purely paper based exercise. Hearts issue more ordinary equity shares, the market value falls as more shares are in circulation and the debt is reduced by the new maket value - no new money is made, however the face value and market values of the shares become closer, not good news it you are a shareholder.
Hearts are an almost fully owned subsidiary as things stand so are unlikely to be paying maket prices for their borrowing. The difference between what they do pay and market value would be viewed as a taxable income so it would make sense to reduce this if they hope to eventually get Hearts in the black.

[Kaiser1962]

Purely paper based exercise. Hearts issue more ordinary equity shares, the market value falls as more shares are in circulation and the debt is reduced by the new maket value - no new money is made, however the face value and market values of the shares become closer, not good news it you are a shareholder.
Hearts are an almost fully owned subsidiary as things stand so are unlikely to be paying maket prices for their borrowing. The difference between what they do pay and market value would be viewed as a taxable income so it would make sense to reduce this if they hope to eventually get Hearts in the black.

But they dont pay the interest it gets added to the debts. They dont pay it cos they dont need to cos they borrowed it from themselves so its not actually debt. Why isnt everyone doing this?

[Danderhall Hibs]

But they dont pay the interest it gets added to the debts. They dont pay it cos they dont need to cos they borrowed it from themselves so its not actually debt. Why isnt everyone doing this?

'Cos they're not all owned by a Bank?

[matty_f]

Not really sure what your getting at here, are you suggesting hearts fans have been lied to :confused:

Surely not, pressumably they'll be going absolutely mental about this on Kickback? Quite right they would be as well :agree:

We must be mistaken - you're right, if the Yams HAD been lied to, we'd be hearing all about it.


No way would they just take another one up the rear end from the Liths and let them get away with it.