Ukraine’s banking sector finished the year with record losses.

By the end of 2016 , the banking sector received the largest losses for all years of Ukraine’s independence. A record amount is 159 billion.

“In 2016, recorded historically high losses of the banking sector – UAH 159 billion, due to the redundancy of the credit portfolio of PrivatBank at the end of the year. For other banks deductions to reserves decreased significantly and the total loss was reduced to 23 billion, compared to UAH 66 bn in 2015. The prerequisites for entering the sector in profitable activities in 2017 (excluding the factor of “PrivatBank”). For 2017 will last for a “reboot” of the banking sector. Is expected to accelerate the rate of growth of deposits compared to the year 2016″, – stated in the message of the national Bank.

The regulator hopes to resume active lending to the real sector and households and assures that the banks are optimistic. According to the survey of the NBU, more than 70% of financial institutions expect the growth of portfolio companies during the year.

Read more about the results and predictions of the work of the Ukrainian banking sector read on Dnia this link.