Ukrainian Banks

Concorde Capital, April 2007, Pages: 53

The outlook for credit growth remains bright

Ukrainian banks have matured rather quickly, with average annual loan growth of 52% over 2004-2006. The Loan/GDP ratio doubled over the last four years to reach 46%, which placed Ukraine in line with the avera

TABLE OF CONTENTS

1. Investment case
2. Summary
The outlook for credit growth remains bright
Borrow abroad to lend at home
Earnings doubled
Foreign acquisitions will persist in 2007, but slow afterward
Ukrainian banks: Cheaper on strong fundamentals

3.

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