Ukraine`s National Bank may lose some $82 mln due to lawsuits

The National Bank of Ukraine (NBU) could sustain UAH 2.2 billion, or US$ 82.3 million, in losses because of lawsuits filed against the regulator, according to the NBU`s consolidated financial statements for 2016.

Meanwhile, the regulator notes that the likelihood of such losses is low.

”There is a probability of possible loss on some claims totaling UAH 2.2 billion, but it is not high,” the statements said.

Earlier, a number of former shareholders of the banks, being recognized by the National Bank as insolvent, had begun appealing the regulator`s decisions in court.

The National Bank considers it necessary to implement a high-quality judicial reform in the country, excluding corruption and increasing the effectiveness of the judicial system.

Memo. During the banking system purge in 2014-2017, the NBU removed 90 banks from the  market, with 33 of them being declared insolvent in 2014, another 33 in 2015, 21 in 2016, and another three in 2017.

Avatar photo


An independent media focused on Ukraine.
Follow us on social media:

Submit a Comment

Your email address will not be published.

Share This

Share this post with your friends!