The loss of Ukrainian operating banks grew by 8.1 times in January-March 2015 year-over-year, to UAH 16.2 billion, the National Bank of Ukraine (NBU) has reported.

"Losses of functioning banks in the first quarter of 2015 totaled UAH 16.2 billion. In general, since early 2015 Ukrainian banks saw large losses [UAH 80.9 billion], and 80% of them were formed by insolvent banks where temporary administrations are introduced by the Individuals' Deposit Guarantee Fund," reads the report.

According to the report, the total loss of insolvent banks Nadra, Delta Bank and IMEXBANK came to almost UAH 60 billion.

NBU said that revenues of Ukrainian banks grew by 53.6% in Q1 2015, to UAH 77.5 billion.

The regulator said that the loss of banks formed first due to large sums sent to the reserves for possible losses from active transactions.

"In Q1 2015 funds sent to reserves 7.2 times exceeded the sum sent year-over-year. The main amount of reserves was formed in February," reads the report.

According to the report, the fall in the quality of the credit portfolio, the negative effect from the hryvnia devaluation, risky policy of banks and not enough capitalization caused the necessity of imposing a set of stabilizing measures and purify the banking system from dishonest banks. The banks received the unified rules for organizing the internal control system aimed at increasing the quality of the bank risk management system.

"We start diagnostic exercises for 20 largest banks in terms of assets, which will result in the decisions on additional capitalization and reduction of risks of transactions with affiliated persons. This will balance the operation of banks and will promote the restoration of their profit-making," the press service said, citing First Deputy NBU Governor Oleksandr Pysaruk.