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Banking
December 22, 2008
Ukrainian hryvnia – how to stop devaluation?
The instability regarding currency exchange has become the main theme in Ukrainian life these days. Severe UAH devaluation has cast doubt on the ability of some Ukrainian companies to meet their FX obligations, as well as the ability of retail loan borrowers to repay their FX debts. Ukraine’s President Viktor Yuschenko, NBU Chairman of the Board Volodymyr Stelmakh and Ukraine’s Finance Minister Viktor Pynzenyk have made a series of important declarations about their intentions and further actions regarding the stabilization of the situation in the banking sector and the FX market. As well, Prime Minister Yulia Tymoshenko has said that she wants the President to resign the NBU’s Chairman of the Board, the respective draft legislation for which has already been registered in the Parliament. We would like to provide our view about the latest declarations made by authorities.
Banking
October 12, 2007
Megabank: Five Good Reasons
Megabank [MEGA] is a mid-size, Kharkiv-based bank, and is moving towards becoming one of Ukraine’s top 20 banks. Notably, it combines considerable growth with a high quality loan portfolio and a low cost-to-income ratio. MEGA is also a very transparent, and works with World bank, EBRD, and the IFC on a number of corporate governance and lending programs. Megabank should significantly benefit from the growing Ukrainian middle class: 40% of its retail business is represented by car loans, which, in turn, have one of the highest levels middle class penetration levels – 23%. When combined with mortgage-secured consumer loans, car lending should enable MEGA to achieve a true breakthrough in retail.
Banking
July 18, 2007
Rodovid Bank – Surfing on Retail
Rodovid Bank [RODB] is ranked 18th among Ukrainian banks with total assets reaching USD 944 mln in May 2007. With a special focus on retail, mortgage, and credit card loans, Rodovid Bank is likely to move further up the banking sector ladder, striving to reach a top 10 position. Significant market expansion on the national level and product development are among the bank’s top priorities.


Daily monitor

Banking
December 31, 2008
Vnesheconombank transfers PromInvestBank USD 1.1 bln: POSITIVE

The Austria-based Slav AG Company and Russia's Vnesheconombank were expected to transfer UAH 1.1 bln to PromInvestBank by the end of December 30, according to Interfax-Ukraine.

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Banking
December 30, 2008
Government forbids banks to confiscate apartments

According to Interfax, at a meeting on Saturday, the Ukrainian Cabinet of Ministers took a decision barring banks from confiscating the apartments of citizens that were bought under loan agreements with banks if, at least, the amount covering the interest on those loans is repaid.

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Banking
December 25, 2008
NBU tends toward decrease in ‘dollarization’ of Ukrainian banking system

The National Bank of Ukraine (NBU) has increased the reserve requirements for foreign currency deposits as of January,5, with this change being outlined in resolution #442. The norm of the reserve has increased from 3% to 4% for deposits with a fixed period and from 4% to 7% for callable deposits. The norm of the reserve for UAH deposits was not changed.

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Banking
December 23, 2008
NBU restricts foreign currency loans

The NBU is restricting currency loans for borrowers who don’t have an income set in foreign currency, which mainly applies to consumer and mortgage loans, according to the National Bank order No. 406 issued on December 1 and registered by the Justice Ministry on December 17, which comes into effect on December 28.

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Banking
December 23, 2008
EBRD provides USD 75 mln subordinated loan to BAVL: POSITIVE

The European Bank for Reconstruction and Development (EBRD) has granted USD 75 mln to Raiffeisen Bank Aval [BAVL UZ, U/R] on the conditions of subordinated debt. A fund provision contract was signed on December 22. No information about the interest rate was disclosed.

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