Ukrainian bankers have set up one more association on the financial market - the Independent Association of Ukrainian Banks (IAUB), the head of the board of the newly formed association, Ukrsotsbank CEO Borys Tymonkin, has said.

"The association includes about 16 banks from the top twenty, which is about 55% of the market. In general, 65 banks have joined the association," he added.

The main objectives of the association's activities, in particular, are the protection of the rights and interests of its members, the development of relations with banks and banking associations in other countries, and cooperation with regulators and the authorities.

"The main motive behind the creation of the association is the need to consolidate the system around its common interests and their most effective promotion," Tymonkin said.

There is currently one more banking association in Ukraine - the Association of Ukrainian Banks, which was established in 1990 and unites about 130 financial institutions.

Ukrinform