Associations of Ukrainian banks held their second interregional conference in Lviv February 22, 2008 attended by heads of the central bank main departments, banks, and bank associations representing Lviv, Odesa, Dnipropetrovsk, Kharkiv and Crimes, ZIK informed.
The key speaker at the conference, Kredobank governor Stepan Kubiv, spoke about the development trends in Ukraine’s regions. He analyzed the reasons and consequences of two interconnected processes, globalization and expansion of banks networks. Lviv oblast presents a vivid example of such globalization, as out of 5 commercial banks located here 4 have strategic foreign investors – Kredobank has a Polish investor, Elektron Bank an Austrian, Universalbank a Greek and Lviv bank an investor from Iceland. Foreign banks expansion can be seen in other regions of Ukraine. This trend is confirmed by recent acquisitions of Ukrainian banks: Prykarpattia bank in Ivano-Frankivsk oblast, Morsky transport bank in Odesa, AvtoZAZ bank in Kyiv, Kyivska Rus in Kyiv and Kyiv oblast, Ikar bank in Donetsk oblast, Faktorial bank in Kharkiv oblast and Radabank in Dnipropetrovsk oblast.
Foreign banks that couldn’t buy stakes in major Ukrainian banks, are now eyeing medium-sized and small banks in the regions, with banks with large networks becoming attractive buys. Foreign banks consider their expansion in Ukraine as a tool to raise their competitiveness and profits. At present, the share of foreign capital in Ukrainian banks stands at 35%, a much lower share than in the Central and Eastern Europe where it is 75%.
The conference adopted some 20 recommendations on how to improve the Ukrainian banking system.
ZIK

Before you go to Ukraine (Travel tips)

Money

I wouldn't worry about changing your money in Ukraine. There are lots of ATMs, and once you put your card in, it will ask if you want an English menu. It will not give you a balance though. And it will ask if you want a receipt. Also, VERY important, cover your hand when you put in your PIN!!!!! And make sure nobody is watching. If you do want to exchange some money, the rate is lower with large bills. The exchange rate is also 10%, which is ridiculous. With the ATMs usually it is only a couple of dollars, charged by your bank.
Also some credit cards (Visa and Master Card) are acceptable in hotels, good restaurants and big supermarkets. But not American Express (yet). American Express you can use when you are renting a car from AVIS in airports of biggest Ukrainian cities Lviv, Kyiv, Odesa, Simferopil, Kharkiv.

Jim (Iowa, USA)