KreditMarket Index being introduced in Ukraine
Kyiv, July 7 (Interfax-Ukraine) – The KreditMarket Index for individuals is being introduced in Ukraine, director general of Kyiv-based KreditMarket financial company, Ihor Durytsky, said at a press conference at Interfax-Ukraine on Wednesday.
He said that the index tracks the average effective rate for five types of credits issued to the public: mortgage credits, car credits, card credits, cash credits and consumer credits. Open information provided by financial institutions to borrowers is used to calculate the indices. The crediting conditions of ten largest players in each market segment are taken into account.
"The KreditMarket Index is a marker that is helping the credit market to become transparent, stable and efficient," Durytsky said.
As of July 6, 2011, the KreditMarket Automobile Index is 18.87% per annum in hryvnias, the KreditMarket Mortgage Index is 19.22%, the KreditMarket Card Index is 58.46%, the KreditMarket Cash Index is 89.85% and the KreditMarket Consumer Index is 127.04%.
The credit indices will be updated every two weeks and posted on the KreditMarket's Web site.
The KreditMarket trademark belongs to Financial Solutions Center financial company Ltd., which is a subsidiary of Financial Solutions Center (Kyiv). A large owner of Financial Solutions Center Ltd. is Belseas Limited (Cyprus).
An independent retail financial chain with own infrastructure operates under the KreditMarket trademark. The first KreditMarket department was opened in May 2008.
Currently over 100 of the chain's own departments and outlets are operating in Ukraine. Volksbank and Kredobank (Lviv) issue credits under the KreditMarket trademark on a partnership basis.