Reuters: Ukraine central bank introduces long-term refinancing support for lenders

17:55, 18 March 2020
Economy
231 0
The move would help maintain financial stability / Photo from bank.gov.ua

The move would help maintain financial stability in the country and stimulate economic growth, the bank said in a statement, Reuters reported.

It said it would use long-term liquidity assistance in addition to short-term refinancing means.

Read alsoShare of non-performing loans in Ukraine in 2019 below 50% for the first time in three years

As UNIAN reported earlier, the share of non-performing loans (NPLs) in Ukraine's banking system in 2019 is below 50% for the first time in three years, having shrunk to 48.4% as of January 1, 2020.

The main improvement factors were the following: an increase in retail lending (by about 30% year-over-year); major credit portfolio restructuring of two state-owned banks of over UAH 30 billion (US$1.2 billion); major efforts by banks with foreign capital to optimize portfolios by selling and writing down NPLs on the account of loss allowance; and appreciation of the hryvnia, Ukraine's national currency.

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