Ukraine’s banking system in 2016 hit new record highs when it posted losses at Hr 159 billion, or $5.83 billion, according to the National Bank of Ukraine (NBU).
“The banking sector posted a record high loss in 2016 at Hr 159 billion, which is connected with the reserves formed for [nationalized] PrivatBank’s loan portfolio,” Director of the NBU’s financial stability department Vitaliy Vavryshchuk said at a briefing at the NBU.
