Wednesday, May 14, 2008

Major banks suspend service of mortgage loans in national currency.

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Major banks suspend service of mortgage loans in national currency. Major banks Ukrsibbank, Reiffeisen Bank Aval and Ukrsotsbank suspended service of mortgage loans in national currency, according to Delo newspaper. Abovementioned banks in 2007 grasped around 45% share of total mortgage loans, as the article informs. Banks representatives commented such situation due to the shortage of national currency (anti-inflationary actions), and thus the rates will not be lowered by other banks due to high level of inflation. At this, Privatbank raised UAH mortgage rate at 22.9%, Finance and Credit Bank- 19.2%, and OTP bank rates mortgage loan at 18.2%.

Special focus: Sub-prime and leveraged loans

FX poll 2008:

Major banks suspend service of mortgage loans in national currency.

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