KIEV, March 4 – Bad and overdue debts on credits of Kiev banks in 2008 grew 2.7 times, to UAH 6.369 billion, which is 35.4% of the total bad credits of the whole banking system.

The National Bank of Ukraine reported in a letter to banks that the share of bad credits in the credit portfolio of Kiev banks in 2008 grew by 0.68 percentage notches, to 1.73%.

"After a skyrocketing bad credits of individuals [3.5 times from the start of the year], the fulfillment of commitments by economic entities have worsened [the sum of bad debts on credits to them grew 2.4 times]," reads the letter.