KIEV, Feb. 16 – The rapid worsening of the economic climate and conditions for operating businesses in Ukraine is affecting the main credit characteristics of the banks in the country, according to a report by Standard & Poor's.

"The fall in the quality of assets, the narrowing of liquidity and the fall in profits is bringing ruinous consequences. It's no wonder that trust in the banking system is weakening quickly, the evidence of which is the continued outflow of funds from clients' accounts," reads the document.