Business peciliarities in Ukraine and Bealrus
direct investment. According to the National Bank of Ukraine, only 7.7% of the cumulative
FDI into the share capital of Ukrainian companies went to the financial sector in 2004. In
2008, the figure was almost 30%. Over 2006-2008, nearly 42% of the $26 billion foreign
direct investment in Ukraine went to the financial sector as foreign interest in Ukrainian
banks peaked. European groups did not abandon their subsidiaries during the crisis. In 2009-
2010, they invested over UAH 17bn of new share capital in the Ukrainian banking sector,
which was 67% more than what the owners of local banks invested.
Another obvious effect was the unprecedentedly broad access to retail lending available to
average Ukrainians from 2005-2008. The mortgage loan portfolio alone swelled sevenfold
over 2007-2008, even though foreign banks preferred to place foreign exchange risks on the
27
borrowers
annaabi.ee 
