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Concorde Capital31 page report
published Nov 08, 2007
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In 9M07 Ukrainian banks continued to step up their balance sheet expansion. The banks posted 77% yoy growth in assets, against 57% yoy last year. Loans increased by 78% yoy and deposits rose by 54% yoy. Retail loans, with its triple-digit growth of 107% yoy, remained the main asset growth engine. Equity growth hit a three-year historical peak, 75% yoy.
The growth did not come free, banks’ margins were squeezed. Local banks decreased interest rates and inflated their budgets for expansion. Net margin of Ukrainian banks fell in 9M07 vs. 18% in 9M06.
Over 9M07, the average interest rate of Ukrainian banks slid by another 0.4 pp and the sector’s net interest margin narrowed, after staying at 6% over the past three years.
Operating cost growth accelerated in 9M07 vs. 36% yoy a year ago, slowing progress in efficiency. Cost/Income improved over the period by a minor 0.8 pp vs. a 7.4 pp decline in 9M06.
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| Source: | Concorde Consulting
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| Document ID: | cc35
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| Country: | Ukraine
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| Free Sample: |
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| Format: | | PDF |  |
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Concorde Capital is a full service investment and consulting company, with offices in Ukraine and Russia and operations throughout CIS financial markets. Concorde Capital's information products include daily news & research reports (equity, fixed income, industry/market, macro and strategy), covering all sectors of the economy.
