It would be hard to put it another way. Volodymyr Lavrenchuk, chairman of the board at Raiffeisen Bank Aval, the biggest foreign lender in Ukraine, describes the situation on the market there as “very complicated”.
With Ukraine in economic and political crisis, with Crimea annexed by Russia and a pro-Russian rebellion in the Donbas, state and corporate finances have been badly hit with predictable effects on the country’s banks. “What we are seeing is a set of dramatic events that is hard to encounter anywhere else,” Lavrenchuk tells beyondbrics. Read more