AUB: Ukraine manages to avoid systemic banking crisis in 2009.

By bne IntelliNews February 15, 2010
Ukraine managed to avoid a systemic crisis in its banking sector in 2009, President of the Association of Ukrainian Banks (AUB) Oleksandr Suhoniako has said. According to him, Ukraine 's banking system had remained afloat, including due to trends on the repayment of deposits seen in the second half of 2009, as the amount of individuals' fixed deposits grew by UAH 17.5bn in May-December. The main tasks for 2010 are the need to create a civilized and transparent market for the sale of distressed assets, a further rise in bank capital and the possible creation of a so-called "bailout" bank, he noted. He also stressed the need to close bankrupt banks as soon as possible and to draw up a strategy for the development of the banks that have been recapitalized with state funds.

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