Finance Ministry said state-owned banks in the first half of 2019 reduced non-performing loans by UAH 22 billion ($909.1 million).
In particular, the state-owned banks, including financial institutions, reduced debts by UAH 3.5 billion ($144.6 million), restructured them by UAH 10.6 billion ($438 million), and covered debts with reserves at UAH 2.9 billion ($119.8 million), according to the ministry’s non-performing loans status report.
Oschadbank has successfully completed debt restructuring with Firm T.M.M. LLC, Imperovo Foods LLC, Agroholding Avangard, and PJSC Rise-Maksymko. Two debt-restructuring cases have been launched with WOG Group’s companies. Ukreximbank opened its first case with Office Construction Agency LLC, which became one of the largest in terms of the amount of debt to be restructured.
At the same time, public sector banks are actively involved in debt collection. As of July 1, courts have more than 70,000 relevant lawsuits worth over UAH 116 billion ($4.8 billion). Noteworthy, almost 54,000 lawsuits worth UAH 26.5 billion ($1.1 billion) were lodged in the first half of 2019.
The share of non-performing loans in Ukraine’s banking system remains significant, that is, 51% as of July, or UAH 581 billion ($24 billion), of which state-owned banks account for 65%. (UNIAN/Business World Magazine)
