OREANDA-NEWS. December 15, 2009. According to the NBU data, commercial banks suffered losses of UAH 27.6bn in 11M09, which increased by UAH 4.1bn, m/m. The main reason of this bank loss growth was the increase in the reserve amounts by UAH 7.3bn (13%, m/m) in November.

Millennium Capital sees the news to be negative for the commercial banks, since despite a slight hryvnia appreciation in November, we estimate that the amount of non-performing loans continued rising. This resulted in higher operating expenses of commercial banks and restricted their liquidity.