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The sector has been posting annual losses since 2014 due to a large proportion of non-performing loans and the consequent need to boost reserves.
"Due to significant volumes of provisions for reserves, the banking sector completed the year with a loss of 24.4 billion hryvnias -- mainly this was accounted for by the four largest banks, including Privatbank," the central bank said in a report on banking sector performance in 2017.
Last year, non-performing loans accounted for 54.5 percent of the sector's debt portfolio.
The number of loss-making Ukrainian banks will fall in 2018 to fewer than 10 compared with 18 in 2017, senior central bank official Vitaliy Vavryshchuk said.