NBU removes 16 banks from market since early 2016

NBU removes 16 banks from market since early 2016

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Ukrinform
The National Bank of Ukraine (NBU) has removed 16 banks from the Ukrainian market since the beginning of the year.

NBU Governor Valeria Gontareva has stated this at the Ukrainian Financial Forum in Odesa, the NBU press service reports.

“We have removed 81 banks from the market since 2014, including 16 banks removed this year. Thus, we have already switched to the banking system reboot. In particular, we are gradually increasing risk management level. The credit risks of banks will be recognized timely and in full,” Gontareva said.

She also added that the banking system 'cleaning' process has been rather painful but we can see the first outcomes today. In particular, it is reflected in gradually restoring confidence in the banking system, which is confirmed by a gradual rise in the number of retail deposits in the Ukrainian national currency.

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