Business peciliarities in Ukraine and Bealrus
of January 1st, 2013. Assets of Ukraine's largest bank, Privatbank, were 15% of total assets in
the banking system as of January 1st, 2013.
Source: National Bank of Ukraine. http://www.bank.gov.ua
Foreign (European) interest in Ukrainian banks peaked during 2005-2008, with a wave of
high-profile acquisitions on Ukrainian banks by European counterparts. Since 2009, more
and more European banks have left Ukraine, including ING Bank, Home Credit Group, redit
Europe Bank, Societe Generale, Volksbank International and Swedbank. SEB Bank sold
assets to a Ukrainian businessman, and other banks simply left the retail market. The
outflow of foreign capital is having a heavy impact on Ukraine's banking system.
The 2006-2008 credit boom and the surge of loans issued in foreign currencies were fuelled
by cheap European money. However, the 2008-2009 crisis showed that the presence of
private Western banks in Ukraine was a vacation from bigger troubles rather than a burden
for the Ukrainian market
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