The National Bank of Ukraine (NBU) published information about deposits made by households (individuals) in October 2011. According to the NBU, deposits from individuals went up to UAH306.759 billion, from UAH303.750 billion, in October, which is equivalent to USD 24.269B and USD24.461B correspondingly.

What’s a fundamental difference between buying goods at an electronics store and at an online shop? The difference is customer motivation. A “learned” customer comes to an offline electronics store, examines closely a required thing, then visits a website to buy it at a far lower price.

Macroeconomic indicators forecasted in follow-up of 2011 were published at a working meeting of Governor of the National Bank of Ukraine Serhiy Arbuzov and foreign representatives of investment companies and funds, experts in investment activities, in particular Dragon Capital, Ice Canyon, Ashmore, Spinnaker, BTG, Stone Harbor, UBS and others. Mr. Arbuzov draw attention of meeting participants to key macroeconomic indicators: "It is clear today that our country’s GDP will show a 5% growth at the end of this year. Inflation level is expected to be approximately at 7.5%.”

CreditMarket Card Index increased by 8.27% in November, CreditMarket Cash Index – up 8.02%, CreditMarket Mortgage Index – up 3%, and CreditMarket Car Index – up 1.05%. So, the trend in appreciation of credits for individuals because of the growth in the cost of finance resources in Ukrainian banking system kept on. The trend appeared at the end of September-October. Besides, the first calculation in December showed a dramatic growth in CreditMarket Car Index – up 3.46% (see an article on the index calculation of December 5.)

Our finance company has a strong background in granting of credits to individuals. We are well aware of a targeted use of these loans, especially in respect of no-purpose cash loans. This enables us to reliably estimate the impact of consumer lending on Ukraine’s balance of payments.