The Cabinet of Ministers of Ukraine under the Stand-By Arrangement with the International Monetary Fund (IMF) has updated the principles of strategic reforming of state-owned banks.

"The main priorities of the regulations are to implement strategies for each bank in the public sector, protect and support the implementation of corporate governance reform with a majority of independent members in the supervisory board, reduce the share of non-performing assets on the balance sheet, reduce the position of the state, state-owned enterprises in public sector banks, and other things," Deputy Finance Minister Denys Uliutin said at a meeting of the Cabinet of Ministers on Wednesday.