Roman Olearchyk says that Ukrainian is a country with too many inefficient banks (+/- 150 banks). The past 17 years there where 20-25 foreign banks who invested a large proportion of their capital to have a market share from 40 per cent. Before the global crisis hit, loaning money was almost free and off course the foreign banks thought they could profit from the situation. When the crisis started, the currency dropper by some 50 percent and loan levels reached 10-30 percent, fortunately a financial meltdown was avoided thanks too the intervention from the IMF. The banking landscape will be changed forever.
Michaël Meirlaen
Ukraine (= name of the country)
BeantwoordenVerwijderenbanks WHICH
share OF
of course
dropped
full stop before 'fortunately'
thanks to
of the IMF
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