Ukraine's central bank sees insolvent banks' refinancing loan debts shrinking

In particular, UAH 564 million ($21.3 million) came from the Deposit Guarantee Fund (DGF), which sold collateral (assets) totaling UAH 586.2 million ($22.1 million) over the period under review, it said.

Read alsoUkraine's debts: Annual foreign debt repayments to exceed $7 bln in 2018-2021The number of approvals by the National Bank of rights to claim collateral under credit agreements increased during the said period. In particular, 50 decisions were taken to sell the rights of claims under 49,000 loan agreements, the total debt on which was estimated at almost UAH 46 billion ($1.7 billion).

"Collateral (assets) sale approvals have increased due to the optimization of the overall procedure of the approval of initial prices by the NBU and the DGF. The increase in sales of collateral was also due to the fact that the DGF had switched to the ProZorro.Sales e-procurement system, which enables us to simultaneously use 29 online trading platforms in Ukraine," the NBU said.

As UNIAN reported earlier, Ukrainian banks' debt before the National Bank on refinancing loans amounted to UAH 63.393 billion ($2.4 billion) as of November 1, 2017, which was 0.4% down from October 1, 2017.