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Post by zakaz on May 3, 2015 18:13:32 GMT
 How about making a secured deposit in largest Ukranian bank for 14,1% AY 8)
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Post by zakaz on May 3, 2015 18:15:03 GMT
For those who don't know russian, initial deposit 100 000 EUR monthly reinvestment of 1000 EUR(from monthly interest) final summ after 12 months on your account = 126 085 EUR
and "евро" means "euro"
Strangely this page only exists in Russian and Ukrainian
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on May 4, 2015 6:42:07 GMT
Sounds as dodgy as the artful dodger himself!
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Post by zakaz on May 4, 2015 7:43:53 GMT
Just confirmed it with my contact over there, they really need money, so for now they got those interest rates. I guess within a year they will decrease them. The only risk here is if the government nationalizes the bank, which is very unlikely. The only downside to this is taxes. You have to check if your country has an agreement with Ukraine against double taxation.
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Post by bracknellboy on May 4, 2015 8:23:33 GMT
Just confirmed it with my contact over there, they really need money, so for now they got those interest rates. I guess within a year they will decrease them... The same could have been said for IceSave and a few others a number of years ago....
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on May 4, 2015 8:30:12 GMT
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Post by bracknellboy on May 4, 2015 8:35:34 GMT
...The only risk here is if the government nationalizes the bank, which is very unlikely... But which govt and of which nationality ? P.S. I'm not intending to make light of a very serious geo political situation.
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Post by zakaz on May 4, 2015 16:01:21 GMT
Privatbank is the biggest and most successful Ukranian privately owned bank, which also has branches in other countries, including Russia.
Chance of the nationalization if very low imho, but taxes. Malta has no double taxation agreements with Ukraine active, so paying 22.5%(Ukraine tax)+Malta tax if it is there is not an option for me.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on May 4, 2015 16:08:41 GMT
It's all way beyond my comfort zone, as are Bondora and similar platforms. I'd be wondering all the time whether my cash was in the hands of the Bank of Bloodnok (Maj.).
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Post by yorkshireman on May 4, 2015 16:12:59 GMT
I think I’ll give it a miss in case it’s a cover for a contribution to a superannuation scheme for Vlad the Mad.  And, as someone remarked elsewhere about another investment in Eastern Europe, only 4 hours by tank from Russia.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on May 4, 2015 16:48:59 GMT
Has allegedly received a large injection of IMF cash over the last year as part of efforts to prop up Ukraines banking system. Doesnt sound like a particularly good bet in a continuely unstable economic & political climate.
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james
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Post by james on May 8, 2015 21:13:27 GMT
How about making a secured deposit in largest Ukranian bank for 14,1% AY 8) What is the money secured with? Please do not give the answer "property located in eastern Ukraine" unless the property has insurance that includes losses due to war or insurrection. The boss of my boss is a person who used to live in Ukraine and now lives in Moscow. I have many co-workers in the general area. Difficult times.
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Post by zakaz on May 8, 2015 22:22:55 GMT
Deposit Guarantee Fund (Ukraine) www.fg.gov.ua/en/which is also a member or European Forum of Deposit Insurers efdi.eu/index.php?id=26I am actually partnered with the bank, so I trust them more or less, but I personally don't trust the Ukranian government for now. That is why I bought an apartment yesterday with a planned AY of 10%+. I trust Maltese Real Estate much more and 10% is still ok. |
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Post by zakaz on May 9, 2015 12:47:51 GMT
Just to reflect on my thoughts:
Western Banks and P2P Lend at 3-5% interest and Eastern Europe banks take deposits at 9-14% guaranteed deposits.
..... Someone sure is making billions on the situation as we speak.
You just need to be able to continually penetrate the financial/political(mistrust/fear) wall between the two markets and you are golden.
And there are people with such possibilities.
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james
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Post by james on May 9, 2015 22:27:19 GMT
Those are guarantors but what is the security for the deposits? Security means things like a house with a mortgage, gold in a bank vault or money in a bank account somewhere (preferably outside Ukraine) that is legally pledged to protect the deposit and which can be seized if the money is lost. It does not mean just that it is a deposit with usual state-backed protection. A state can fail to pay, or a group of banks can fail to pay but physical property may still be available to be taken. If that property is in a place where the rule of law still applies, respects the debt and can act to allow recovery. This matters when the state is possibly not reliable or subject to possible invasion that could make its own guarantees worth nothing. When there is security for a deposit or loan the next questions are how likely the security is to cover the possible loss and whether it is really collectable if the deposit institution of borrower defaults. I am actually partnered with the bank, so I trust them more or less, but I personally don't trust the Ukranian government for now. That is why I bought an apartment yesterday with a planned AY of 10%+. I trust Maltese Real Estate much more and 10% is still ok. What do you mean by the word partnered? Do you run a bank yourself that has a business relationship with this bank? Are you just a customer of theirs? Just to reflect on my thoughts: Western Banks and P2P Lend at 3-5% interest and Eastern Europe banks take deposits at 9-14% guaranteed deposits. ..... Someone sure is making billions on the situation as we speak. You just need to be able to continually penetrate the financial/political(mistrust/fear) wall between the two markets and you are golden. And there are people with such possibilities. You also need to be able to risk losing the money and not have better opportunities for your money in other places. The interest rate on this is too low to interest me because I can get 11% tax free in one place or 10-12% taxable and maybe soon tax free from another, both without Pound-Euro exchange rate risk. Hedge funds and investment banks are the biggest people to profit. There can be other risks, like " governance" and " corporate governance". That is possibly one polite way to describe what has happened at Bondora over the last 12-18 months, when the actions of the business appear to have led to substantially reduced confidence among lenders. I think that your thought on property in Malta is good. It is probably safer and a better investment with better risk-adjusted interest rate. Ablrateandy liked my earlier post and so it is perhaps worth knowing that one of the things I considered before using Ablrate was the corporate governance structure and the governance and legal enforcement probabilities of the countries involved in the loan and the Ablrate business. Also an area where I asked question to clarify the structures and formal relationships. The willingness to disclose relationships is one important test of governance because concealed relationships can mean big trouble.
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