REUTERS
A mechanism for voluntary restructuring of non-performing loans taken by operating entities from banks may be launched in Ukraine and will be in effect for three years, according to the Ukrainian Finance Ministry and the National Bank of Ukraine (NBU).
A mechanism for voluntary restructuring of non-performing loans taken by operating entities from banks may be launched in Ukraine and will be in effect for three years, according to the Ukrainian Finance Ministry and the National Bank of Ukraine (NBU).
The system is designed to facilitate business operation and boost lending, Finance Ministry and NBU representatives told reporters during the presentation of a draft law on financial restructuring.
NBU Deputy Governor Vladyslav Rashkovan, who was present at the event, said that companies' overdue loans owed to banks had reached 17% of the total amount of loans issued by banks.
According to the NBU, banks' loan portfolio as of September 1, 2015, amounted to around UAH 930 billion.
A significant increase in business loan arrears before banks was recorded during the 2014-2015 period.