Banks started revising rates on loan products due to the coronavirus crisis in the country’s economy
The rise in banking risks due to the inevitable slowdown of the domestic economy and quarantine will automatically increase the cost of loans for businesses. So the bankers said the participants in the online discussion “what would be the benefit to the borrowers during the All-Ukrainian Quarantine”. Banks have already started revising the rates on their loan products.
“Our forecasts for this year will increase, as we will soon see an NBU discount rate of 8%,” said Victoria Mikhayle, head of Alpha-Bank’s board.
“TAScombank decided to continue lending to the business, however, we understand that there may be some risk in the long run. Therefore, for loans of 180 days duration, the interest rates increased by 1-2%, ”said Sergei Bocharov, deputy head of the board of TAScombank.
Arthur Zagorodnikov, deputy head of the board of directors of FUIB, also believes that banks that continue to lend should maintain their liquidity and balance of current risks.
The first deputy head of the board of Globus Bank, Elena Dimitriva noted that her institution has no plans to increase rates. “We have increased the requirements for down payment – we work by 40%. And margin allows you to lend on terms that were there before, ”she said.
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Recall that by the end of April this year, penalties for late payments on consumer loans were canceled, and banks were barred from raising rates.
Such a criterion is contained in the legislation adopted by Parliament on March 17 (draft number 3220) in support for the duration of measures implemented with the aim of preventing the onset and spread of the transition of taxpayers.
Read: How loans work during quarantine in Ukraine: analysis.
By content: Finclub