The National Bank of Ukraine (NBU) in 2016 returned over UAH 4 billion on refinancing credits of insolvent banks, the central bank has reported on its website.

According to the report, the NBU received UAH 2.3 billion thanks to payments on securities, UAH 1.04 billion thanks to payment of credits, UAH 448.6 million thanks to sale of 172 facilities and UAH 295.3 million from other sources.

The NBU said that in 2016 the central bank managed to return UAH 1.1 billion on refinancing credits of insolvent banks.

The NBU said that the sum in 2016 was larger thanks to optimization of operation of NBU structural divisions servicing the credit return. In addition, the Individuals Deposit Guarantee Fund stirred up work to sell property used as collateral and send funds from payment of credits.

"Since January 2017 the Deposit Guarantee Fund has been selling property used as collateral only via the ProZorro system. This helped to increase transparency of sales and increase the circle of potential buyers of insolvent banks' assets," Director of the risk management department of the NBU Ihor Budnik said.

Total debt of insolvent banks to the NBU as of January 1, 2017 was UAH 51.8 billion.