Improving Trust in Banks as Factor of Anti-Crisis Management in Banking Sector of Ukrainian Economy

Mariya Holyk ()
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Mariya Holyk: Chernivtsi Trade and Economics Institute of Kyiv National Trade and Economics University, Chernivtsi, Ukraine

Oblik i finansi, 2017, issue 2, 79-84

Abstract: The article reveals the problem of mistrust in banks and specifies the options for solving it amid the economic crisis in Ukraine. The reasons for the decreased trust in banks have been analyzed, with the major ones among them to be designated as follows: outflow of time deposits from the national banking system and concentration of mainly short-term call deposits; reduced bank stock; deteriorated credit portfolio; non-transparent structure of bank assets. The dynamics of deposit portfolio of the Ukrainian banks and the hryvnia official exchange rate fluctuations are evaluated. The key trends in improving trust in banks as an essential factor of anti-crisis management in the banking sector of the national economy have been explained. Particularly, it is suggested that: 1) trust in the national currency unit should be improved; 2) cooperation between the National Bank of Ukraine and commercial banks in the context of protection of consumer rights when using bank services and increased requirements to openness, transparency and fair terms of bank activity within Ukraine should be intensified; 3) requirements for banks to their proper corporate reputation should be increased; 4) financial awareness of various target groups among population should be increased.

Keywords: institute of trust in bank; anti-crisis management; banking sector; directions of improving trust in bank; factor of anti-crisis management (search for similar items in EconPapers)
JEL-codes: G21 G32 (search for similar items in EconPapers)
Date: 2017
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