(MENAFN- UkrinForm) In 2020, the share of non-performing loans (NPLs) in the Ukrainian banking sector decreased to 41% (as of January 1, 2021) from 48.4% (as of January 1, 2020), the press service of the National Bank of Ukraine (NBU) reports.
The central bank explains that a significant reduction was possible due the requirements developed by the NBU for the organization of the procedure for managing problem assets. To implement them, banks submitted NPL management strategies on their approaches to settling non-performing assets.
In addition, in 2020, criteria were determined to write-off the assets on which the debt repayment is not expected. The Cabinet of Ministers approved needed measures to manage the problem assets of state-owned banks.
The central bank added that the quality of loan portfolios had improved in the banks of all groups.
As reported by Ukrinform, in 2019, the share of NPLs in the Ukrainian banking sector for the first time in the past 10 years was lower than 50% and amounted to 48.4% as of January 1, 2020.
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