​The Ministry of Finance will start to report regularly on state-owned banks in Q4 of 2018

8/10/18

Given the fact that state-owned banks and banks with state capital account for more than 50% of the banking sector of Ukraine, approximately UAH 250 billion have been spent for their capitalization since Ukraine gained independence (including UAH 155.4 billion provided to the PRIVATBANK). The operations of these banks, apart from their commercial relevance for the state, are subject to a significant public interest. Following the initiative of acting Minister of Finance Oksana Markarova, the Ministry of Finance is starting to report regularly and in detail about the key performance data of banks, the status of the implementation of the “Strategic Reform Principles of the State Banking Sector” by banks, implementation of their individual strategies as well as about processing bad assets.

This information will be first presented as quarterly and half-year reports on the official website of the Ministry of Finance; later on, a separate section will be established containing all information about the operations of the state banking sector: current reports in the “bank at a glance” format, strategies and reports on their implementation status, results in regard to non-performing loans (including implemented loan-restructuring plans) as well as updated information about court proceedings and applications to law enforcement authorities. All data will be presented in the aggregated form as well as separately for each of the four state-owned banks.

In the coming weeks, the Ministry of Finance will be developing the format of data disclosure jointly with the National Bank and the banks in accordance with the law, including the bank secret regulations.

By September 1, the new reporting format will be presented; the first extended report is due to be published on November 1.

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