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Post-release of the Press Conference “Why do available credits revive so slowly: first quarter results and a forecast till the end of 2012”

On 18 April 2012 at 11:00, the Press Conference “Why do available credits revive so slowly: first quarter results and a forecast till the end of 2012” was held at the conference room of the Interfax-Ukraine News Agency. Igor Durytskyi, Head of KreditMarket and Denis Rakovsky, KreditMarket’ Sales Director, took part in the conference.

In the first quarter of 2012 the Ukrainian personal credit market has been reviving after the shock suffered in autumn 2011. The banking system was combating consequences of the liquidity crisis till March of 2012 which broke out in August and remained through December. The challenges are caused by both decreasing amount of issued credits and remaining high rates. As late as March clear signs of revival and growth were observed.

Consumer credit granting dynamics in 2011

Month, year

01.11

02.11

03.11

04.11

05.11

06.11

07.11

08.11

Volume

4

4.5

7.6

7.3

7.9

8.4

8.4

7.5

(including auto loans and excluding mortgage, monthly volumes of new issued loans, UAH bn./month)*

Month, year

09.11

10.11

11.11

12.11

01.12

02.12

03.12**

Volume

7.2

7.4

6.3

8.7

5.5

5.2

7.0

* - NBU data.

** - CreditMarket Index estimates

Cash loans in 2012. CreditMarket Cash Loan Index grew from 89.85% to 115.22% within July 2011 - April 2012. The first rate growth to 102% was noticed in the mid-July; the second jump has started in November and is still taking place.

Consumer loans for home appliances in 2012. In July 2011, the CreditMarket Consumer Loan Index reached 127.04%, then it decreased to 125.41% in August, but in early September it was stable at the level of 127.04%, then minor deviations sticking to this level were observed. By April 2012 the CreditMarket Consumer Loan Index reached 139.01%.

Credit cards in 2012. From July 2011 to April 2012, the CreditMarket Cards Index increased from 58.46% to 66.22%. Since early November 2011 a consistent growth to current values with some stops has been observed.

Car loans in 2012. From July 2011 to April 2012, the CreditMarket Car Loan Index increased from 34.44% to 41.31%. The rates grew consistently by reflecting the resource price growth in the market.

Mortgage in 2012. From July 2011 to April 2012, the Credit Market Mortgage Index increased from 19.22% to 24.14%. The intense growth started in late October 2011, insofar as banks reacted to insufficiency of long-term resources and their sharply rising cost.

Monthly dynamics of granting new mortgage credits in 2011, bn. UAH/month.

Month. year

01.11

02.11

03.11

04.11

05.11

06.11

07.11

08.11

Volume

0.227

0.207

0.212

0.261

0.244

0.301

0.301

0.347

 

Month. year

 

09.11

 

10.11

 

11.11

 

12.11

 

01.12

 

02.12

 

03.12**

Volume

0.449

0.557

0.418

0.542

0.192

0.194

0.215*

* NBU data

** CreditMarket Index estimates

 
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