Polish banks will lend over EUR11.6bn in mortgages in 2018

Bank Pekao S.A., Warsaw, Poland (Maria Bninska, Public domain)

Ukraine: VTB Bank insolvent

Croatia’s economy slows down

Poland

Banks operating in Poland will lend more than PLN50bn (EUR11.6bn) in mortgages in 2018 — the Polish Bank Association (ZBP) has informed. It’s the highest amount in the last 10 years and the highest “since the eruption of the crisis on international financial markets”.

The Polish Radio cites Jacek Furga, chairman of the association’s housing finance committee: “Results up to now in the mortgages segment indicate that banks will exceed 200,000 mortgage loans this year.”.

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Ukraine

VTB Bank, Russia’s second largest bank, operating in Kyiv, was declared insolvent by the National Bank of Ukraine (NBU) — the Interfax reports. NBU decided to do so “because of the decrease in liquidity of JSC VTB Bank and the subsequent deterioration of its financial state during the last month”. NBU stressed that VTB Bank owners’ failed to adopt realistic measures to improve liquidity and prevent insolvency.

According to VTB’s quarterly results, the bank has increased its net profit to USD611m in Q3’18.

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Croatia

Croatia’s GDP growth slows down to 2.8 per cent y/y in Q3’18 — the SEE News Corporate Wire informs, after the country’s statistical office (flash estimate). In Q2’18 it was 2.9 per cent y/y.

The largest positive contribution to the economy came from “an increase in the export of goods and services”. Exports of goods and services increased 3.7 per cent, while exports of goods alone increased 5.2 per cent.

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What’s up in indexes

BET (of Bucharest) increased from 8,576.12 index points Tuesday, November 27th to 8,586.20 index points Wednesday, November 28th. It’s up 0.12 per cent d/d and up 10.04 per cent y/y.

BUX (of Budapest) increased from 39,601.70 index points Tuesday, November 27th to 39,656.00 index points Wednesday, November 28th. It’s up 0.14 per cent d/d and up 1.05 per cent y/y.

CROBEX (of Zagreb) increased from 1,724.79 index points Tuesday, November 27th to 1,725.84 index points Wednesday, November 28th. It’s up 0.06 per cent d/d and down 4.98 per cent y/y.

OMXR (of Riga) increased from 932.63 index points Tuesday, November 27th to 947.59 index points Wednesday, November 28th. It’s up 1.60 per cent d/d and down 8.55 per cent y/y.

OMXT (of Tallinn) increased from 1,203.47 index points Tuesday, November 27th to 1,204.28 index points Wednesday, November 28th. It’s up 0.07 per cent d/d and down 2.20 per cent y/y.

OMXV (of Vilnius) increased from 636.17 index points Tuesday, November 27th to 636.41 index points Wednesday, November 28th. It’s up 0.04 per cent d/d and down 3.09 per cent y/y.

PX (of Prague) increased from 1,064.39 index points Tuesday, November 27th to 1,065.30 index points Wednesday, November 28th. It’s up 0.09 per cent d/d up 1.09 per cent y/y.

SAX (of Bratislava) closed at 330.54 index points Wednesday, November 28th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and up 2.59 per cent y/y.

SOFIX (of Sofia) increased from 583.19 index points Tuesday, November 27th to 584.70 index points Wednesday, November 28th. It’s up 0.26 per cent d/d and down 12.39 per cent y/y.

UX (of Kyiv) closed at 1,738.25 index points Wednesday, November 28th. It’s the same result as Tuesday’s. It’s 0 per cent change d/d and up 36.06 per cent y/y.

WIG20 (of Warsaw) increased from 2,222.85 index points Tuesday, November 27th to 2,264.51 index points Wednesday, November 28th. It’s up 1.87 per cent d/d and down 8.90 per cent y/y.

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