NA67
2/26/2016 20:06 EST
All X-pats living in Ukraine, I just came across an article from a news paper in Kiev dated 26 Feb 2016. Reguardig Ukraine Banks. Here is how it goes. Two years ago there was 180 banks open in Ukraine. Today there are 120. Soon, that number could go down to 80. Due to new Capital Requirements for Ukraine banks, mandated by (NBU) National Bank of Ukraine. NBU says 70 of current 120 banks in Ukraine do not have the minimal Capital requirments now required. 56 of 120 banks do not have any resources according to NBU. If additional investment is not found soon, many will be candidates for merger or acquation..... I just though some of you guys living in Ukraine already might want to know this information. Keep you eyes open on your money !!
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Russophile
2/27/2016 12:47 EST
I am glad someone else noticed this...I thought I was just crazy. Last week two of the banks I usually frequent to get money from Western Union were closed 'until further notice'. I used to be able to walk into a bank that handles WU, hand them my transaction number and walk out with $1ooo in a few minutes. I went to several other banks to try to get my money and discovered this: Banks now apparently have a $700 limit on WU transactions for immediate payment. If you want more, you have to 'order' the money in advance and come back the next day to complete the transaction. I still eventually got the money, but there is now just an additional layer of 'pain in the ass'.
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NA67
2/27/2016 14:07 EST
Remember folks "Capital Controls" is the last step before a default or worse. Remember Cyprus and Greece, happened their. Just saying!!! Keep your ears open about IMF and EU funds being given or with held to Ukraine due to lack of action on corruption. I bet this is all tied together.
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hsvgto
2/27/2016 19:49 EST
for me, I'm not underestimating western hatred for putin......west will not let Ukraine default if they think it might put a smile on putins face. If putin wasnt in the picture I wouldnt be holding that view though. Ukraine now has symbolic value (for the west)....it's important that symbol is kept alight.Did someone say there were 180 different banks in Ukr?? That's got scam written all over it....with that population and GDP per person, there shouldnt be more than 50/60 banks MAX,,,maybe Ukraine is like Frank Baileys Building and loans?? ("Its a wonderful life") .....even if it is, it's no time right now to be sentimental when your family's livelihood is at stake
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extremevx
2/28/2016 04:13 EST
Out of the many banks here, I think most are just lending institutions. When I was first here I asked my wife why so many banks. She said most only give loans. I said that in america these would be called financial institutions such as sprinleaf finance etc. She said in ukraine they just call them banks also.
Maybe Ken or Bill could expand on this more.
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kkmail
3/2/2016 09:15 EST
Hey there Mr. Extreme, hello everyone ! I guess it's better late than never for a reply, sorry.. So you know before, during the Yanykovich era it was very easy to get licensed to be a financial institution so whatever segment of the industry the owners chose, that's what they did, be it lenders or whatever. So your wife is spot on, just call it a bank and your off to the races ! It wasn't until only recently where they even had requirements to meet to become a bank, hahaha.. Kind of scary..So basically, we all could have been bankers and owned our own bank ! Whenever we had to many defaults we just quit !! So ya, 50 banks MAX is about right for this country..It's still kind of scary because there just say an entity or a segment of a huge corporation that could close the segment anytime. Although the gov backs the depositor's now, it isn't for much and I have yet to see where they have stepped in and made anyone whole when there bank failed !! BEWARE my friends ! DO your homework my friends !!
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kkmail
3/2/2016 09:15 EST
Hey there Mr. Extreme, hello everyone ! I guess it's better late than never for a reply, sorry.. So you know before, during the Yanykovich era it was very easy to get licensed to be a financial institution so whatever segment of the industry the owners chose, that's what they did, be it lenders or whatever. So your wife is spot on, just call it a bank and your off to the races ! It wasn't until only recently where they even had requirements to meet to become a bank, hahaha.. Kind of scary..So basically, we all could have been bankers and owned our own bank ! Whenever we had to many defaults we just quit !! So ya, 50 banks MAX is about right for this country..It's still kind of scary because there just say an entity or a segment of a huge corporation that could close the segment anytime. Although the gov backs the depositor's now, it isn't for much and I have yet to see where they have stepped in and made anyone whole when there bank failed !! BEWARE my friends ! DO your homework my friends !!
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extremevx
3/2/2016 09:56 EST
Yes, I believe your correct. A bank outside our apartment building went under 6 months ago. The depositors were so pissed they destroyed it. Now starting 2 months ago it was rebuilt and opened under another name. Maybe the same people if anything like the US where you go bankrupt, close and reopen under a new name.
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