Clean-up of Ukraine's banking system nearing completion – chief banker

The clean-up of Ukraine's banking system is nearing completion, Governor of the National Bank of Ukraine (NBU) Valeriya Gontareva said.

"We do see light at the end of the tunnel. We do believe that we do not start to clean up the banking system from the very beginning – we are at the final stage, and this is encouraging," Gontareva said at the 11th investment conference arranged by Dragon Capital in Kyiv on Wednesday.

"We have already agreed with the International Monetary Fund on the indicators, structure and how we will achieve a capital adequacy ratio of 10% in four years," she said.

Thirty-three banks were designated as insolvent in 2014, with six more being declared as such in 2015.