These 14 banks made up a total of 1.7% of the banking sector in terms of assets, Head of Financial Stability Department of the National Bank of Ukraine Vavrishchuk said during the briefing, Ukrinform’s correspondent reports.
“The number of banks on the market decreased by 14. Four banks transformed into financial companies; one bank was connected to the other, and other banks are declared insolvent and sent to the Deposit Insurance Fund. These 14 banks made up 1.7% of the banking sector in terms of assets is absolutely non-material indicator”, Vavrishchuk said.
He noted that 2017 was the first quiet year of operation of the banking sector after three years of a very deep financial and economic crisis. The banks normalized the work, the funding base stabilized and the lending started recovering, and, as the result, the financial result of the banking sector significantly improved.
Vavrishchuk also noted that even if in the future some banks have problems and withdraw from the market, it will definitely not have influence on the condition of financial stability.
“The clearing of the banking sector already finished”, Head of Financial Stability Department of NBU noted.
