NBU tightens requirements for banks on data disclosure

The National Bank of Ukraine (NBU) to expand the transparency of the country's banking system has expanded the list of data on the financial condition of banks and compliance with regulations that are to be published on the regulator's website and web pages of financial institutions.

As reported on the NBU's website with reference to Resolution No. 11, which comes into force on February 21, 2018, since March the regulator will begin monthly publication of economic standards in the context of individual banks.

In addition, banks will begin publishing on their websites balance sheets, information on the structure of loan portfolios by types of economic activities, as well as data on the quality of loan portfolios.

Read alsoIMF issues recommendations to Ukraine to ensure continued cooperationAccording to the National Bank of Ukraine, these steps will help to increase the transparency of banks, which is in the interests of investors, creditors and depositors.

As UNIAN reported earlier, Ukrainian solvent banks in January-November 2017 received UAH 1.826 billion (US$65.4 million) in net profit against UAH 18.884 billion ($67.6 million) in loss year-over-year (y-o-y).

As of December 1, 2017, the number of solvent banks in Ukraine, licensed to conduct banking activities, amounted to 86, including 38 banks with foreign capital.