OREANDA-NEWS. December 29, 2014. Clearly understanding the increasing financial burden of our currency mortgage borrowers that is direct consequence of the difficult economic situation in Ukraine, UkrSibbank BNP Paribas Group has all this time been doing its best to help those clients who are in a particularly challenging situation.
 
Before the onset of currency crisis, UkrSibbank officially proposed conversion of foreign currency loans into UAH. This program was massive and an impressive share of 20% of customers chose to convert to UAH, protecting themselves from further devaluation risks our country is still exposed to.
 
Since March 2014 more than 10,000 people have been able to purchase foreign currency they needed to repay their loan at a favourable reduced exchange rate. Though the bank is not in favour of a one-size-fits-all approach, we have constantly been looking for individual solutions. As an example, since the beginning of this year more than 2,300 mutually beneficial deals were concluded with customers.
 
“In this difficult situation we keep meeting with clients individually in order to discuss their repayment schedules and try to find a compromise solution, – says Philippe Joannier, CEO of UkrSibbank BNP Paribas Group. – Of course, given the economic and political situation in the country, no universal solution can be devised and applied to everyone, but we are really working on finding ways to help people on a case-to-case basis. This approach has proved to be efficient, therefore we shall keep offering individual restructuring deals. Evidently, Ukraine has yet to come up with reforms and legislation that would equally protect and guarantee rights of both individual borrowers and the banks so as not to put the entire economy at risk. What has always struck me about Ukrainians was their dynamic approach to challenges and courage at facing a very severe economic crisis. People here really want to make their country better, improve banking system and themselves. Solving the currency problem is the challenge we all have to face, sensibly and in a civilized way.”