OREANDA-NEWS. August 08, 2012. Why today rates on loans are so high when salaries and wages are so low? This issue bothers vast majority as potential, so current borrowers. According to opinion of Tetiana Nurmukhametova, the Head of Marketing Division of Kreditprombank, reply to that issue lays in economic plane, reported the press-centre of Kreditprombank.

“Banks are part of the economy, its financial arteries, which can not work counter to the general macroeconomic and monetary trends. Let us handle economic criteria: level of salaries and wages (as in general income level of the society) and cost of credit funds have different bases of formation” – she notes.
 
“The first is a derivative of economic growth rate that is after crisis collapse in 2008  are being recovered at a restrained pace: following the results of the first half of the year the increase made about 2%, leading foreign experts (IMF, EBRD, World Bank) predict for the next 2 years growth rates of about 2-4%. Income of the society can not growth at a dramatically faster pace, otherwise “soap bubble” will sooner or later burst.”

According to the expert of Kreditprombank, the cost of credit funds depends directly on the value of money in the economy, in other words on price of involved resource. “Today bank deposits are the main resource of funding for banks, and high price is a forced payment for inflation and devaluation risks. On the other hand, bank deposit still remains the only one understandable by internal investor and acceptable by ratio “profit-risk” investment tool. Is Ukrainian depositor ready today to the “European” 3-5% on deposit per annum for the purpose of cheapening cost of loans to 5-7%? An affirmative reply to that issue will be a powerful catalyst for the availability of credit funds” – Tetiana Nurmukhametova is convinced.