The total debt of banks on credits taken from the National Bank of Ukraine (NBU) as of February 1, 2016 reached UAH 103.188 billion, Director of the risk management department Ihor Budnyk has said.

He said that over 50% of credits of UAH 51.154 billion were issued to banks that were declared insolvent. The debt of operating banks as of late January totaled UAH 52.034 billion, including the debt of Rodovid Bank of UAH 4.436 billion (it was declared insolvent on February 1, 2016).

Budnyk said that 90% of credits were issued before H2 2014 due to the liquidity crisis in the banking system, and starting from H2 014 until early 2016, the credit portfolio expanded by UAH 16.579 billion.

The last stabilization credit was issued in June 2015 to bank Finance and Credit.

The NBU said that the structure of the refinancing credit portfolio includes credits to companies worth UAH 122.854 billion (including UAH 56.319 billion at banks in the Individuals' Deposit Guarantee Fund), credits to individuals worth UAH 39.209 billion (all in banks in the Deposit Guarantee Fund), property worth UAH 59.79 billion (UAH 29.12 billion in banks in the Deposit Guarantee Fund), securities worth UAH 22.916 billion (UAH 4.953 billion in banks in the fund) and movable property worth UAH 10.852 billion (UAH 1.43 billion in banks in the fund).

As reported, banks and the Deposit Guarantee Fund in December 2015 cut the debt to the NBU by UAH 12.3 billion.

"The difference between the volume of credits issued by the NBU, including to the Deposit Guarantee Fund, and the volumes of repaying of credits issued earlier was minus UAH 12.3 billion," the NBU said.

The NBU did not disclose the sum of current debt.