Finance Ministry of Ukraine assessing impact of switch of state-owned banks to IFRS9

13:15, 07.12.2017 1 min read

The Finance Ministry of Ukraine is assessing the influence of the switch of state-owned banks to international financial reporting standard IFRS9, Deputy Finance Minister for European Integration Yuriy Butsa has said.

"We have asked all state-owned banks to analyze the influence of IFRS9 on their indicators, as some assets there are assessed in a new way, not as it was done before. Now the analysis is being conducted and soon we will understand the figures," he said.

Earlier bankers said that the switch of banks to IFRS9 could result in the large increase in the sum of reserves.