The Banking System in Ukraine

Abstract

Banking services, during Soviet times were primarily provided by a government dominated bureaucracy that processed documentation. Bank personnel were used to provide financial accounting records on credits obtained by entities for projects approved under five year plans. The banks' activities did not include serious financial analyses, or a review of the profitability or credit worthiness of projects and their sponsoring entities. These traditional banking activities were effectively considered to be irrelevant by bankers. One could say that the clients of the banking system were essentially government ministries, rather than the enterprises who received credits approved by higher authorities in government.transition, banking system, Ukraine