Ukraine Banks Owe 67 Billion Hryvnia On Central Bank Refinancing

KIEV, Ukraine -- Ukrainian lenders owe the central bank 67 billion hryvnia ($8.4 billion) for financing they received after the collapse of Lehman Brothers Holdings Inc. cut off international funding, the bank said today.

Ukraine's Central Bank

State-owned banks are liable for 24.7 billion hryvnia of the total, Olena Myronenko, deputy head of banking supervision, said today at a news conference in Kiev, the capital.

A total of 47 lenders, including four that are now under central bank management, received funding from the Natsionalnyi Bank Ukrainy.

Ukrainian banks had written off 10 billion hryvnia of bad loans, or 16 percent of all non-performing credits, through March 31, said Natalia Ivanenko, head of normative and methodological support for banking regulation and supervision.

The central bank has implemented new rules for writing off bad loans that will help banks clear their balance sheets and strengthen the banking system, Ivanenko said.

Source: Bloomberg

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