Since January 1, the 1.5 year moratorium loses force for the issue of credits in the foreign currency to natural persons. But, despite availability of considerable currency resources, large banks are not in a hurry to announce about renewal of crediting due to high currency risks, whereas medium-sized and small banks are ready to issue the dollar credits to households at 11-14%, UKRINFORM reports citing Kommersant-Ukraine.

Main currency loan risks, named by banks, are large volumes of troubled debts in the portfolios of market leaders, high cost of the internal resource base, absence of long-term foreign liabilities and a low level of the borrowers' discipline and their incomes. "What currency crediting should be resumed for? To artificially expand the number of potential credit users? I do not think that in the context of the above mentioned risks it is worth falling into the same trap," Deputy Chairman of Finance & Credit Bank Viktor Holub says.

The terms of crediting will be insignificant. "The optimal terms for the hryvnia crediting make up no more than a year, but it is much for the currency crediting. They may be issued for three to six months," Head of the National Credit Bank Supervisory Council Andriy Onistrat says. "It may be financing of cash gaps, crediting of transactions."

Small institutions are more active in preparation to the issue of currency loans. "If a ban on currency credits is lifted, we will start issuing them in hard currency," Onistrat says. "We are ready to issue the same credits to natural persons that we issue in the hryvnia: auto credits, loans for the purchase of housing and mortgage borrowing. Currency rates on them will be lower against those in the hryvnia," Deputy Board Chairman of Bank of Cyprus Ivan Kuzovkin promises.

Banks intend to attract clients by low rates. "In total, the hryvnia crediting cannot be an adequate replacement of the currency crediting, due to the fact that the hryvnia credit rates are not so affordable as in the foreign currency, interest rates are higher on them. The National Bank has to work over this too," Senior Adviser of Alfa Bank and NBU Council Member Roman Shpek says. A difference between the hryvnia and dollar credits before the crisis made up 3-4%. "If due to any reasons a decision about resumption of currency crediting is taken, the maximum term will make up two years, and effective interest rates for unsecured loans will be from 20%, for secured loans - 14%," Holub prognosticates. In small banks rates may be even lower. "Due to an excess of the currency on the market, a rate on such credits may appear to be less than 10%. A realistic forecast is about 11-12%," Onistrat believes.

UKRINFORM