Ukrainian banks have reduced a portfolio of bad loans by 20 billion hryvnia, chairman of the National Bank of Ukraine Serhiy Arbuzov told during a conference organized by the Taxpayers Association of Ukraine, ForUm correspondent reports.

"The share of bad asset has decreased from 14.3% to 12.8%. This is a very big achievement. The banking system has reduced a portfolio of bad loans by 20 billion hryvnia," he said.

In addition, according to Arbuzov, a number of changes to the legislation which provide for exemption of banks from VAT on transactions for the sale to third parties of real estate, which was granted to lenders as collateral, is being developed.

"The proposed steps will support the economic growth, improve the efficiency of tax policy and ensure the stability of the banking system, and this is very important," he added.


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