Banks "spin" on the devaluation! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine

Banks Due to the devaluation of the largest foreign investors in Ukrainian banks have already formed provisions in the amount of more than EUR1. 1 bln...The devaluation brought the fruits of foreignersDue to the devaluation of the largest foreign investors in Ukrainian banks have already formed provisions in the amount of more than EUR1. 1 billion.However, experts do not expect that because of this, foreign lenders will refuse to support their troops in Ukraine. On their activity, the more influence will have agreements with the governments of countries where they are based in their Central offices.Published YTD financial results of the largest banking groups that have invested money in Ukrainian assets, show a major impact of the devaluation of the hryvnia on the consolidated balance sheet of the parent banks. In particular, the formation of reserves in EUR330 million of Ukrsotsbank reported Unicredit Capitalia, EUR390 million in reserves sent Intesa SanPaolo due to the revaluation of investments at PRAVEX-Bank, provisions amounting to EUR272 million formed the French group BNP Paribas on consolidated balance sheet UkrSibbank, EUR93 million cost revaluation of investments other French group Societe Generale. In sum, these reserves were in excess of EUR1. 1 billion.Until the publication of the annual results of Raiffeisen and other foreign banks that acquired the assets in Ukraine in 2006-2008 But experts believe that the total reserves of foreign banks, due to the deteriorating economic situation in Ukraine and the devaluation of the hryvnia, will exceed EUR 2. 5 billion, which will affect the capitalization of the parent banks along with provisions for the devaluation of the currencies of other countries in Central and Eastern Europe.However, bankers do not expect that the growth of reserves for credit operations and revaluation of investment will affect the ability of foreign banks to increase capital of their subsidiaries in Ukraine. According to Deputy Chairman of one of the major banks with Ukrainian capital, reserves will only increase the desire of foreign groups to support daughters in countries affected by the devaluation. "Reserves from revaluation of investments are formed only on paper," says the banker.- The write-off of these reserves is performed only if the investment is lost.".



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