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.