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Ukrainian central bank unveils stress test results

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Ukrainian central bank unveils stress test results

The latest stress tests carried out by the National Bank of Ukraine showed that 13 of the country's 24 biggest banks would need additional capital totaling a combined 42.1 billion Ukrainian hryvnia.

The regulator said that the sum dropped to 19.7 billion hryvnia at the end of 2018, after JSC VTB BANK was declared insolvent and several lenders took measures to fulfill their capital needs.

PJSC First Ukrainian International Bank, PJSC Universal Bank, PJSC Bank Vostok and PAO Sberbank of Russia unit Sberbank JSC fully covered their capital gap in the adverse stress test scenario. In addition, PJSC Pivdennyi Bank, JSC Alfa-Bank and PJSC State Savings Bank of Ukraine are in the process of implementing their restructuring plans to boost capital, while the remaining lenders have until the end of 2019 to do so, the central bank said Dec. 29, 2018.

The regulator also said that an asset quality review, which covered 56 local lenders that did not undergo the stress tests, showed that four banks needed additional capital at the beginning of 2018, but all of them have already implemented the necessary recapitalization measures.

As of Dec. 28, US$1 was equivalent of 27.75 Ukrainian hryvnia.