Vladimir Lavrenchuk: "the completion of the cleanup of the banking sector will contribute to the restoration of lending the Ukrainian economy"

Kiev. 22 Jan. — Such opinion the Chairman of the Board Raiffeisen Bank Aval was expressed during the General meeting at European business Association (EBA) under the title “the Ukrainian business climate — a global perspective”, which was held yesterday in Kiev.

“the Painful process of withdrawal from the market of weak banks is a necessary step to strengthen stability of the banking system», — noted at the meeting Vladimir Lavrenchuk. “Only a stable and well-capitalized banking system will be able to begin the process of reducing the cost of deposits, and therefore the cost of credit”, — he added. According to the banker, more affordable loans to Ukrainian banks may be starting from the second half of 2016 after the completion of cleaning of the banking sector and the banks recapitalization program.

the European Business Association was founded in 1999 with support from the European Commission to Ukraine. Since that time, EBA has grown to the most influential about the’unity business in Ukraine. The purpose of the organization — to give their companies–members the opportunity to work together to solve important for the investment climate of Ukraine the issues and improve it for the benefit of industry, society, the economy and the country as a whole.