Valeria Gontareva, governor of the National Bank of Ukraine (NBU), might be leaving office, but is often commended for the banking sector restructuring and consolidation that has been long-awaited by foreign investors.
We are still not at the end of the road, but compared to where we were a few years ago, when we had about 200 banks, the situation is much better, Dmytro Sologub, deputy governor of the National Bank of Ukraine tells Emerging Europe. Most of the banks which we wiped out from the market were already dead, by 2008. Some of them had been haunted by imprudent practices for 20 years, and their supervision was also pretty negligible. So, there was simply no other choice because the longer you wait, the larger the problem y…
Read the full article at: http://emerging-europe.com/regions/ukraine/ukraines-banking-sector-reconstruction-brings-asset-sales-and-opportunities-in-equal-measure/