UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: mean effective rates for credit cards and cash credits went up by 10.58% and 22.98%, respectively, since July

CreditMarket Card Index grew to 69.04% in mid-December, from 58.46% at the beginning of July, and CreditMarket Cash Index increased from 89.85% to 112.83% for the same period. CreditMarket Consumer Index rallied at 127.94% (after some fluctuations at the beginning of this autumn) which equals the value calculated in July 2011. The information is as of 20 December 2011.

Volodymyr Kompaniets, Operations Director at KreditMarket: “Indicators of CreditMarket Card Index and CreditMarket Cash Loan Index have been going up since the beginning of July that we began to calculate the indices. Their growth was especially intensive in October-November. For the past two weeks, no bank from our index list has modified its terms and conditions for these credit types.

 

As for CreditMarket Consumer Loan Index, it remains stable, though four banks changed their conditions on credits for electronics and home appliances. The matter is that two out of the four banks decreased the cost of the credits.

We consider the stable nature of the credits for home appliances and electronics stems from an initially high effective rate and a tough attitude of trade networks interested in extensive granting of these loans. We don’t expect any significant modifications in this crediting segment in near future, at least till the end of NY holidays.”

Recall that CreditMarket Car Index and CreditMarket Mortgage Index have increased as well since the beginning of our index calculations, i.e. since July 2011.

The following CreditMarket Indices are effective:

Index

Incr. in rates from July 2011

Current indicator (%)*

Calc. date

Previous indicator (%)*

Date of prev. calc.

Card

10.58

69.04

12 Dec 2011

58.46

06 Jul 2011

Cash

22.98

112.83

13 Dec 2011

89.85

06 Jul 2011

Consumer

0

127.04

14 Dec 2011

127.04

06 Jul 2011

* effective rate per annum, in UAH. Calculated in accordance with NBU standards.

 
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