EBRD: No threat of leaving Ukrainian market by foreign banks

2011-11-11 10:11:17

There is currently no threat of withdrawal of foreign banks from the Ukrainian market, according to Oleksandr Pavlov, Senior Banker at the European Bank for Reconstruction and Development (EBRD).

"Firstly, there is no such information [that foreign banks are planning to leave the Ukrainian market]. There are rumors appearing from time to time that someone is planning to go away or shut down. However, there is no bank being closed in Ukraine. And, at least from our point of view it is not expected," he said.

Pavlov explained that it is only that some international groups may change their long-term strategy and focus less attention on the active development of Ukraine. But no one speaks about the withdrawal, especially the sharp one.

"If you look at Raiffeisen, OTP, Unicredit, .. for them it is quite large subsidiaries in their overall system. Either the size of the "daughter" is not so great and not so expensive to maintain it here. In this country, I expect stabilization of the situation. So we see this risk as minimal, given the current situation," Pavlov underscored.