The nationalization of PrivatBank became the main event of 2016. As a result, the government stake on the banking market increased to 60%, Financier and Managing Partner of ESKA Capital Sergei Vaskov said.
«It cannot but bother, because year by year we watch ineffective management in state banks. Though the nationalization of PrivatBank was a necessary step, the budget and taxpayers will feel its consequences for long time. The adoption of the law on full guarantee of individuals’ deposits at state banks was an unpleasant, but necessary step for prevention of panic. We hope that this law will be cancelled within the next half a year. Or we risk eliminating competition on the banking market. And create a bigger “vacuum cleaner» than PrivatBank», Sergei Vaskov said.
The expert mentioned the renewal of business lending as the positive event.
«Banks and leasing companies started actively decreasing rates and passed the law on private bailiffs. The whole financial market has high hopes for it. The Institute of Private Bailiffs should work by mid-2017. The State Bailiff Service has not been able to cope with set tasks for a long time and became the significant problem for banks and leasing companies in the process of collection of real estate or funds from debtors», the financier noted.
Out of negative events, he noted that in 2016, there was not any law adopted for development of the stock market.
«NBU suspended the issue of licenses to individuals for transferring currency abroad. By doing so, it actually deprived law-abiding citizens of the opportunity to legally invest aboard, at least in the purchase of real estate. The history with Bank Mykhailovsky depositors demonstrated how badly our politicians understand the depth of problems in the financial market and are ready to shrug off with populist decision», the expert added.
According to Sergey Vaskov, in 2017, there will be several bankruptcies on the banking market.
«There is still hope that the government will realize necessity in deep and radical reforms in the financial sector. This is the blood of the whole economy. Probably, in 2017, it will start interesting corporate bond issuance. Apparently, all the factors are «FOR»: taxation of deposit and bond revenues remains at the same level. Ukrainian companies are ready to pay the higher rate for borrowed funds than banks can offer for deposits. People have a large amount of cash funds. Traditionally favorite segment of real estate investment demonstrates bad results for several years», the financier said.
