Chairwoman of National Bank of Ukraine: There will be no more major bankruptcies of Ukrainian banks

The Chairwoman of the National Bank of Ukraine, Valeriya Hontareva, stated in an interview with that the National Bank believes that there will be no major bankruptcies of Ukrainian banks.

“We have 40 banks that in terms of assets made up 97% of the entire banking system. You have already seen who didn’t survive in the first top 20. The second top 20 passed the test on January 1st, 2017. The Platinum Bank and Fortuna Bank withdrew from the market. The latter, despite the fact it was in the second top 20, is a pretty small bank. A Shareholder made efforts to save the bank – repaid refunding of the National Bank of Ukraine and he was likely to meet obligations to the Deposit Guarantee Fund. However, he failed to increase the capital of the Fortuna Bank. There are still banks, which make up 3% of the system assets. Regardless of how many of them go bankrupt, the market would remain unaffected,” Hontareva said.

Over the past three years, dozens of banks, including such major banks as the Delta Bank, VAB Bank, Brokbusinessbank, Nadra Bank and Imexbank ceased to exist in Ukraine. The major bank of Ukraine PrivatBank was saved from bankruptcy due to nationalization.

Currently, PrivatBank, State Savings Bank of Ukraine (Oschadbank), the State Export-Import Bank of Ukraine (Ukreximbank), Ukrgasbank (all of them are state-owned), Raiffeisen Bank Aval, Ukrsotsbank, Sberbank, UkrSibbank, the First Ukrainian International Bank and Alfa Bank were included in the top-10 Ukrainian banks in terms of assets.

  Ukraine, banking sector