OREANDA-NEWS. October 12, 2010. Alfa Bank (Ukraine), major Ukrainian commercial bank, resumed retail car landing. The downpayment is 15% while maturity is up to 7 years.

Millennium Capital considers the news as positive for the automotive industry of Ukraine as retail car lending is the main factor for car producers to boost production in the coming years. In 2009 all banks have reduced their lending programs to individuals virtually to null which has led to the manyfold contraction of the domestic demand. The resumption of lending should certainly boost the market in the short- to mid-term. Ultimately, Millennium Capital estimates the production of passenger cars in Ukraine to grow six fold by 2012 to reach 400,000 vehicles per year.