Russian banks remain the main lender of Ukrainian real estate – the expert

Almost complete lack of real estate projects financing from Western banks caused by the equally difficult economic situation in Europe as well as internal factors of the local market. This idea expressed by the experts of the banking sector during the annual event, CEO Networking Dinner, held on February 21st at the «President Hotel».

As noted by the speakers of Banks table Vladislav Bayraka, CEO at Bank of Cyprus in Ukraine and Dominique Menu, head of BNP Paribas S.A. in Ukraine, development projects are still financed by a Russian credit structures, and by some Western banks. Explaining this situation, Vladislav Bayraka said: «Russian banks are familiar with the local mentality and peculiarities of doing business. Western banks are currently concerned about the crisis in the Euro area, the low estimate of Ukraine by IMF, the uncertainty of future course of the country and many more. However, Bank of Cyprus is still give loans to retail and we have almost no defaults». The most problematic, according to experts, are dollar-denominated loans at the peak of the crisis in 2008.

However, experts of the banking table said that the Ukrainian economy, in spite of everything, is encouraging. «The country has great potential, it's just using wrong» - says Dominique Menu.

Among other questions, the banking table participants discussed the most interesting segments of real estate for banks, possible currency fluctuations, as well as mandatory requirements for the loan projects.

CEO Networking Dinner was attended by executives from leading industry companies, real estate experts, bank institutions and law firms. Speakers at the meeting were Aleksei Govorun (TMM), Aleksei Evchenko (ArtBuild Hotel Group), Anna Dukhno (Knauf Insulation Ukraine), Vladislav Bayraka (Bank of Cyprus), Wolfgang Gomernik (Delta Projektconsult Ukraine), Daniil Vladov (JLL), Dominique Menu (BNP Paribas), Elena Shulyak (Midland Development), Igor Kabuzenko (ICON Private Equity Fund), Ilya Sverdlov (DLA Piper Ukraine) Luydmila Luganova (Hospitaler Group), Michail Artyukhov (UZTS), Nataliya Stelmakh (DTZ Ukraine), Natalia Kochergina (DLA Piper Ukraine), Nick Cotton (DTZ Ukraine), Oleg Kurinnoy (Dragon Development), Sergei Fedorik (Ukrbudcontract), Stanislav Shulga (UaGBC).

CEO Networking Dinner's aim is to consolidate the actions of top management of leading companies in Ukrainian real estate market to find optimal solutions for the further development of all its segments in the process of open dialogue.