Ukraine’s banks are suffering as a combination of a currency collapse and a deep recession stretch their balance sheets to breaking point. So far this year 12 Ukrainian banks have lost their licenses and 14 have been placed under temporary administration, according to ratings agency Moody’s. That comes after 17 banks lost their licenses last year as the collapse of President Viktor Yanukovych’s government and the ensuing civil war in the east of the country pushed the country into a deep recession. Yet most of the banks current woes can be traced back to a single factor — the collapse …read more
Source: Business Insider
