Moody’s improved the forecast for Ukraine’s banking system to stable from negative, according to the website of the credit Agency. Today, analysts’ opinions have changed. Experts believe that the work of Ukraine’s recovery after a deep recession in recent times has yielded results and stabilized the situation in the country. This conclusion is made in the Moody’s report, entitled “Banks – Ukraine: Steadying Economy and Improving Funding Conditions Support Stable Outlook“.
According to experts Moody’s, the growth of confidence to Hryvna and the decline in inflation expectations led to a rise in currency deposits to 12% from March 2015 to March 2016. It indicates a shift in the predominant trend in the past two years of outflow of deposits from the system.
The share of hryvna deposits for March 2016 was 81%, when viewed as a whole for all accounts of Ukrainian banks. As noted, this significant improvement gives the banks access to relatively stable in terms of price source of financing.
The updated outlook of Agency also says about the low risks associated with refinancing. Planned repayment of debt should not present problems for banks.
For the future the improvement in funding conditions will boost lending, and the recent stabilization of the national currency will contribute to the solvency of banks.
For reference: Moody’s or Moody’s Investors Service is an international rating Agency. Moody’s is a subsidiary of Moody’s Corporation. It is involved in assigning credit ratings, research and risk analysis. Moody’s along with Standard & Poor’s and Fitch Ratings is included in the “big three” international credit rating agencies.
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