UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: mortgage and auto loans went up by 5.13% and 5.69%, respectively, from the beginning of our measurements (Jul 2011)

CreditMarket Mortgage Index grew by 5.13% from July to December; CreditMarket Car Index – up 5.69%. Till the end of August, effective rates for the specified credit types were stable, but they started to go up at the beginning of September. The growth was especially rapid in November-beginning of December.

Denis Rakovsky, Sales Director at KreditMarket: “A mean effective rate increased for both unsecured and secured loans this autumn. This was a market response to the growth in the cost of mid-term resources. Besides, some banks declared commitment to grant auto loans and mortgage credits, however they just received borrower applications, but postponed consideration of such for a rainy day. Some other banks used the situation for a strict selection of customers – they granted loans to the most reliable clients imposing knowingly exacting requirements to their paying capacity.”

 

The following CreditMarket Index values were effective for secured loans, as of 12 December:

Index

Diff. for 6 months, %

Current indicator (%)*

Calc. date

Previous indicator (%)*

Date of prev. calc.

Mortgage

5.13

24.35

07 Dec 2011

19.22

06 Jul 2011

Car

5.69

40.13

05 Dec 2011

34,44

20 Jul 2011

* effective rate per annum, in UAH. Calculated in accordance

 
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