Ukraine: Sanctioned Russian banks don't threaten financial stability

March 23, 2017 16:09
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Breaking news. (photo credit: JPOST STAFF)

KIEV  - Ukraine Central Bank Deputy Governor Kateryna Rozhkova said on Thursday that the subsidiaries of Russian banks in Ukraine, hit with new sanctions from Kiev, are stable and don't pose a threat to the financial system.

Five Russian state-owned banks operate in Ukraine, with a combined market share of 8.6 percent and liabilities of 36 billion hryvnia ($1.3 billion). Sberbank, VEB and VTB are among the top 20 largest lenders.

Ukraine imposed new sanctions on the lenders that took effect on Thursday, including prohibiting them from taking money out of Ukraine.

"These banks are relatively stable today and their activities do not in any way threaten the stability of Ukraine's banking system," Rozhkova told reporters.

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