In order to enhance the transparency of the country’s banking system, the National Bank of Ukraine (NBU) has expanded the list of data on the financial performance of banks and their compliance with regulations that are supposed to be published on the central bank’s website, as well as on the official sites of the banks, UNIAN reports.
According to a message published on the National Bank’s website citing Resolution #11, which becomes effective on 21 February 2018, from March onwards the regulator will publish economic standards in the context of particular banks on a monthly basis. Additionally, banks will be obliged to publish their balance sheets, information regarding the structure of loan portfolios by kinds of economic activities, as well as data on the quality of loan portfolios.
According to Ukraine’s central bank, these measures will enhance the transparency of banks, which is beneficial to investors, creditors and customers. Solvent banks of Ukraine in the first 11 months of 2017 received $66.9 million in net profits, compared to losses of $67.6 million in year-on-year terms.
As of 1 December 2017, there were a total of 86 solvent banks licensed to perform banking activities in Ukraine. 38 of those banks had foreign capital.