07/10 17:03 Current Situation on Mortgage Credit Market Round Table - EBA Dnipropetrovsk Branch

Mr Olexandr Afanasyev, Deputy City Mayor on Construction, Architecture and Land Use, and Mr Shevchenko, Deputy City Mayor on Economy and Finance presented activities of their departments.
Real estate agency Soyuz presented some analytical information on development of real estate market for the first half of the year 2008. Gradually demand decrease observed in April was caused by fewer mortgage credits released by banks and very high prices for real estate objects; in September demand went down to zero.
Mr Serhiy Zgonik, President of the Dniprovskiy Bank Union, told about general situation on mortgage lending. Mr Zgonik explained that no crediting in the mortgage market is a temporary measure and some time later banks will begin to credit again but with higher interest rates.
Mr Sergiy Shishkin, Head of Corporate Relations Department of OTP Bank, noticed that there were no changes in their work with corporate clients; however a lot of banks have problems of payment of syndicated credits.