Dollar loans coming to an end

Banks Finansy03-10-2007 dollar loans coming to an end once popular among educated Russians occupation - to take out loans in dollars - may soon cease. Banks have faced problems of low profitability of such operations, and abandon them. Six months ago, to take personal loans in U.S. currency was a good idea. Despite the dollar's weakness, confidence in the currency in Russian banks were high, and interest on foreign currency loans were on average lower than on the ruble. Therefore, for the Russians, regardless of the currency in which they are denominated revenues, was profitable to take out a loan in dollars. Not only do they save on interest, so everything else steady fall in the dollar even more cheaper credit. However, the crisis raging in the dollar economy, forced the Russian bankers to think about. Uniastrum Bank was the first among Russian banks cut mortgage lending program, refusing to grant loans in foreign currency. According to experts interviewed by the newspaper Kommersant, Uniastrum faced with the problem of liquidity and inability to refinance foreign currency mortgages. Experts believe that it will force other banks to follow suit Uniastrum Bank.