​Ministry of Finance has developed format for disclosure of regular information about operations of state-owned banks

9/1/18

On August 10, the Ministry of Finance announced the initiative of acting Minister of Finance Oksana Markarova to launch regular and detailed reporting on the operations of state-owned banks on the Ministry’s official website. The implementation progress of the “Strategic Reform Principles of the State Banking Sector” as well as the individual strategies of these banks and the processing of their bad assets shall also be subject to regular and detailed reporting.

According to the plan, today the Ministry of Finance will publish the format of the new quarterly report prepared in line with the law. Proposals to the draft design of the report can be sent till the end of September to presa@minfin.gov.ua

For each of the four state-owned banks (AT KB “PRIVATBANK”, AB “Ukrgazbank”, AT “Ukreximbank”, AT “Oshchadbank”), the key data (shareholders, management team, organisational structure, number of customers etc.) as well as the key performance data in charts and diagrams (visualisation of the dynamics of selected data) shall be disclosed. This includes data about the volume of active and passive operations, volume of credit and deposit portfolios, financial results, information about the turnover in the POS-terminal network, sum of payment transactions effected by citizens etc.

Also, the report will contain aggregated data about the operations of the state-owned banks in the context of their organisational structure and position in the banking system of Ukraine.

A separate report is planned to be prepared every six months to inform about the progress in processing bad assets (NPL) including its quantitative data (results of already completed restructuring deals and positive court decisions for the state-owned banks).

Once a year, data will be presented about the implementation of the development strategies of the state-owned banks.

The first extended report is due to be published on November 1.

You can mark the parts of text you like, which will be available at the link in the address bar of your browser

You can mark the parts of text you like, which will be available at the link in the address bar of your browser