Booming Ukraine Banking Sector

In the current market environment, one could easily mis-interprete the word 'booming' in the title of the below market research report.

http://www.prlog.org/10332939-booming-ukraine-banking-sector.html

From the press release

"Sep 05, 2009 – The market research report, “Booming Ukraine Banking Sector”, is an analytical study of the thriving banking industry of the southeastern European country, Ukraine.

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Key Findings

- Ukraine is one of the fastest growing countries in Eastern Europe by assets, loans, deposits and profitability of the banking sector.
- The bank deposits in the Ukrainian banking sector are projected to grow at a CAGR of about 45.8% (in terms of national currency) during 2008-2012.
- The bank loans in the Ukrainian banking sector are forecasted to grow at a CAGR of about 66% (in terms of national currency) during 2008-2012.
- Economic entities accounts for majority of bank loans in Ukraine.
- It is forecasted that total number of payment cards will reach over 95 Million by the end of 2010 at a CAGR of 31%. "

In fact the quoted numbers '45.8% (in terms of national currency) during 2008-2012' or 'about 66%(in terms of national currency) during 2008-2012' look impressive until you compare them to the annual inflation level in Ukraine.