KIEV, Sept. 9 – Ukraine's banking system is facing high risks, according to Standard & Poor’s.

"Ukrainian banks remain highly vulnerable to potential shocks due to rapid, untested loan growth in recent years, amid macroeconomic and political uncertainty," said S&P credit analyst Ekaterina Trofimova. "Also burdening the sector are still-substantial single-name and industry concentrations, significant dollarization of operations, questions on enforcement of credit rights, insufficiently robust underwriting practices and risk management, as well as regulatory and supervisory responses lagging behind market developments."