OREANDA-NEWS. November 23, 2009. According to the NBU data, the amount of non-performing loans (NPL) grew to UAH 60.8bn in October 2009, which constitutes 8.1% of the total credit portfolio. In 10M09, the NPL volume increased by UAH 42.9bn, or rose 3.4 times.

Millennium Capital sees the news to be neutral, since, despite an increase in the official NPL amount, Millennium Capital sees it to be much lower than the actual amount (over 20% by our estimates). Millennium Capital expects that NPL amount will keep growing till the end of 2009, which will stimulate the growth of banks reserve deductions.