Abstract
The article considers the main tendencies of financial globalization as an all-encompassing process of the world community transformation into an open integrated system of information-technological, financial-economic, socio-political, and socio-cultural interrelations and interdependencies, as well as dialectical interaction of national and global social processes. The main current trends of the Ukrainian banking system development for the period 2016–2017 were researched, which was expressed in accelerating lending to businesses and the population; a key interest rate cut by the National Bank of Ukraine, which creates positive conditions for improving the economy, reducing interest rates on deposits, increasing retail lending and portfolio growth loans to individuals. The Ukrainian banking system is gradually integrated into the international banking system and forms its development pattern in the way of integration processes, taking into account the complexities of the external financial environment.
Highlights
Nowadays, the research of modern trends in the Ukrainian banking system development is a topical issue in connection with political and economic, and social transformations, hryvnia’s devaluation, loss of business by banks and large losses, and, investor confidence loss
It is essential to increase the role of foreign capital in the Ukrainian economy, which must be consistent with the domestic needs of the economy, and with the global financial and economic markets, because today it is not the real sector of the economy that forms the financial sphere in the international market, but the financial markets determine the level of economies development in the world
Given the insignificant volumes of Ukraine’s participation in the global financial markets and the low level of the domestic financial system integration into international financial centers, it is necessary to continue the Ukrainian banking system integration into the world financial space provided that transparency of banking activity is ensured, which should facilitate using foreign experience in banking business and establishing relations with foreign powers
Summary
The research of modern trends in the Ukrainian banking system development is a topical issue in connection with political and economic, and social transformations, hryvnia’s devaluation, loss of business by banks and large losses, and, investor confidence loss. (2011) believe that the emergence of banking insurance groups and transnational banks, as a result of bank mergers and acquisitions, is the basis for creating a single financial space that helps to reduce the sensitivity to market conditions and increase banks’ resilience to risks We emphasize that this tendency extends the structure of geographical presence. Dzubluk (2012) believes that banking globalization is a process of expanding the scope of transnational banks beyond national boundaries, which is accompanied by creating a network of foreign affiliates, on the one hand, and an increase in the number of foreign banks on the other In this context, we emphasize that there are objective processes of Ukraine’s integration into the global financial system, there are many obstacles due to the political and economic crisis. Researching modern tendencies of the Ukrainian banking system will allow new strategic perspective steps towards the gradient of financial globalization
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