Intellinews - Ukraine Financial Sector Report

The IntelliNews Ukraine Financial Banking Sector Report offers an extensive summary of the Ukrainian banking sector. It includes a complete coverage of the latest developments, trends and corporate news, accompanied by thorough statistics and comments. This sector report is ideal to keep you abreast on recent company and industry news. Written by local professionals, it is a unique market and business intelligence analysis, tailored to save time by providing in-depth information, while helping you to make confident and informed business decisions.

Summary

Moody’s may lower Ukraine’s sovereign ratings (B2) by several notches at once due to further deterioration of relations with Europe, weakening of the country's political institutions and low predictability of the political events in light of the upcoming parliamentary elections. The rating agency assesses Ukraine's government financial strength as 'low' against the background of deterioration relative to that of B-rated peers, especially in terms of public debt to GDP developments. Furthermore, Moody’s sees significant external vulnerabilities due to low foreign-exchange coverage of external financing requirements. In addition, considerable contingent liabilities related to the banking sector and quasi-sovereign entities pose significant downside risks for public finances. External funding markets are currently difficult to access and domestic demand for government debt has diminished due to a liquidity crisis in the banking system, which in turn is a consequence of the central bank's attempt to stabilize the exchange rate," the report states.

At the same time, positive macroeconomic trends persisted in February 2012, which was attributed to the balanced monetary policy pursued by the NBU. On one hand, this contributed to lower inflationary pressures. On the other hand, a further impetus for ramping up lending was given through a set of monetary policy tools (an increase in volumes and a decline in the value of refinancing loans, liberalization of terms and conditions for carrying out direct repo transactions). http://www.bharatbook.com/market-research-reports/finance-market-research-report/intellinews-ukraine-financial-sector-report.html

The measures taken by the NBU achieved positive results. February registered an upward trend in deposits from individuals, which increased by 2.3% to UAH 322.0bn (by 4.7% from the start of the year). National currency deposits grew at a faster pace than foreign currency ones (by 3.0%). global market research

The banking system reported a net profit of UAH 1.2bn in Jan-Feb, up by 5% y/y (the banking system saw a loss of UAH 0.2bn in Jan-Feb 2011). Banks’ revenues increased by 3.1% y/y and expenditures shrank by 1.5% y/y.

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