“Liqudity is tight. Access to refinancing from the central bank is difficult. Interest rates on interbank market are quite high,” Francois Girod, head of capital markets at Ukrsibbank, listed the banking sector’s ailment.
The current monetary policy is a big burden, Joannier confirmed, but the lack of necessary instruments is also holding the sector back.
“The fact that a lot of instruments that we take for granted in other places, but that are lacking here, this has to have a repercussion,” Joannier said.