KIEV, March 2 – The total debt of banks on credits taken from the National Bank of Ukraine as of February 1, 2016 reached UAH 103.188 billion, director of the risk management department Ihor Budnyk said.

He said that over 50% of credits of UAH 51.154 billion were issued to banks that were declared insolvent. The debt of operating banks as of late January totaled UAH 52.034 billion, including the debt of Rodovid Bank of UAH 4.436 billion (it was declared insolvent on February 1, 2016).

Budnyk said that 90% of credits were issued before H2 2014 due to the liquidity crisis in the banking system, and starting from H2 014 until early 2016, the credit portfolio expanded by UAH 16.579 billion.