International rating Agency Moody’s raised its Outlook for the Ukrainian banking system from stable to positive.
This was reported analyst at Moody’s Investors Service Lev Dorf, reports finclub.
The Agency believes that the creditworthiness of banks in the country will improve over the next 12-18 months, driven by improving asset quality and returning to profitability.
“Ukraine’s economy will continue to recover gradually, thereby stimulating demand for loans and improving the ability of borrowers to repay their loans. Now that banks have recognized most of their non-performing loans, provision charges should also be reduced, increasing profits,” said Dorf.
Previously, Moody’s had forecast growth in gross domestic product of Ukraine by 3.5% in 2018.