KIEV, Nov. 3 – Troubled mortgage debts over the past 12 months have grown almost tenfold, to UAH 7.2 billion, according to Ukrainian Credit and Banking Union Director General Halyna Olifer.

"Today, the total size of the mortgage portfolio of Ukrainian banks is estimated at over UAH 100 billion (almost half of the planned revenues of the national budget for 2009). Over the period from November 2008 to November 2009, bad mortgage debts grew by almost ten times. This is UAH 7.2 billion that was not returned by 300,000 borrowers. Millions of honest depositors are suffering as a result, which is continuing to demoralize society," Olifer said.