The National Bank of Ukraine has prepared a draft bill that will allow restriction of the number of foreign banks in Ukraine, National Bank of Ukraine's Deputy Chairman Anatolii Shapovalov announced yesterday, Cabinet’s press office reported.

According to him, the document, if adopted, will grant the National Bank of Ukraine the right to set a limit on the proportion of foreign capital in the total capital of Ukrainian banks.

Bankers believe that new ideas of the National Bank of Ukraine will not prevent powerful foreign banks from taking over Ukrainian banks. According to them, administrative regulation of foreign capital will yield no results as Ukraine is a part of the global market. Moreover, they believe that it makes no sense to limit foreign capital because it is impossible to monitor.

According to data from the National Bank of Ukraine, foreign capital could account for over 31% of the combined statutory capital of Ukrainian banks by the end of this year, compared with 19.5% as of the start of the year.

The Association of Ukrainian Banks favours restriction on foreign banks in Ukraine.


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