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04 February 2013

THE PART OF OVERDUE DEBTS DECREASES

Borys Tymonkin, CEO of PJSC "Ukrsotsbank", UniCredit Bank™, during the interview to the Forbes Ukraine website told about how banks would solve the problem of overdue and bad debts. “Their part decreases. The banks from reserves, they constantly sell something. The problem remains, but it can be solved, - the banker stated. - When I came to Ukrsotsbank in 2001, the share of bad debts amounted to 65%, as to 2006 we reduced it to 1,2%. If there was a market growth, bad debts would have been quickly covered. As for now I think it would take another tree-five years. But this is normal. For 5 years before the crisis we managed to come to annual growth of 50%. There was not another such example in the world. For example, for Germany the normal assets growth is 2,5% per annum”. Borys Tymonkin informed that now the part of overdue debts is around 30% of overall portfolio.

http://en.unicredit.com.ua/



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