You're reading: Financial market watchdog predicts 11.3 percent rise in non-bank crediting by 2015

 The volume of credits issued by the credit unions as of January 1 will grow up to Hr 8.9 billion that is 11.3 percent up than by the end of 2012, reads the concept on the development of non-bank financial services market for 2013-2014 drawn up by the regulator.

 According to the National Commission for the Regulation of the Financial Services Markets of Ukraine, the overall volume of assets of credit organizations will rise to Hr 13.5 billion or by 19 percent on the beginning of 2015 (Hr 11.4 billion as of January 1, 2013), the volume of deposits on the deposit accounts of the members of credit unions will rise by 2.3 percent, while the capital of credit organizations to grow by 7.4 percent.

Among the main problems of the market, the regulator called absence of the mechanism of deposit guaranteeing of the members of credit unions, dissatisfactory state of corporate management in the credit unions, lack of guarantees to protect the rights of the members of credit organizations as co-owners and consumers of their services. To resolve these problems amendments into the law should be done to improve individual account of the members of credit unions, establish new demands to the management of credit unions, and reinforce their responsibility when violating consumers’ rights.