Rich people pay instead of poor ones

Solvent borrowers, which agree to pay higher interest rates and commission despite the crisis, let the biggest banks to form reserves for covering bad loans in the Q4. Increasing operations profit by UAH 12,83 billion totally covered the growth of reserves of the biggest banks by UAH 12,31 billion. According to bankers’ the profit increase was supported by hryvna devaluation but in Q1 this factor will rig by the rise in bad debts.

"Currency credits are being calculated in UAH equivalent, so it is possible to get profit even while doing nothing – just because of dollar rate rise. Losses will come when people stop paying back currency credits, - says Yuriy Prozorov, the president of the Ukrainian Society of Financial Analysts. In February credits will be paid off, but in March-April we will have the peak of non-payments".