PrivatBank is concerned about the entry of fintech companies into the market

This was stated by the chairman of the board of PrivatBank Oleksandr Shlapak.

“I see now how fintech companies are entering our country. Tomorrow we will not receive income not only from interest, we will not receive income and commissions, because Alibaba and similar companies will do this, but not the banks themselves,” complains the head of the largest financial institution in Ukraine.

According to him, banks need to repay the lender as soon as possible, and also involve the active participation of the state in supporting credit processes.

“I feel how the banking sector remains on the sidelines of credit processes today. "We are successfully replacing cash loans today, anyone, but not the banking system," says Shlapak.

The banker called for combining the efforts of the state and banks: "We need to use state support more actively: state guarantees for loans, interest rate compensation."

Source: Ministry of Finance