Transformation of the investment priorities of Ukrainian banks with the stagnation on the credit market: positives and problems

Since 2008, the tendencies in the activities of Ukrainian banks have undergone a considerable change, making it possible for the author to firmly mention the deep transformations not only in the banking system itself, but also in its interaction with public, corporate and households' finances, as well as with foreign investors. The article aims at outlining the above mentioned transformations and analyzing their short- and medium-term consequences. The author investigates the changes in the investment strategy of Ukrainian banks during the post-crisis period (2009 - first half of 2013). The article considers the incentives for the changes of the banks' investment priorities and analyzes the advantages of government bonds as the main financial instrument of investment. The author proves that the redistribution of resources by the types of investment is caused, first of all, by the banks' reaction to the current economic conditions rather than revision of the strategies of their investment activities: the post-crisis transformations of the banks' investment strategy show the limited number of investment type, barriers to the banks' entrance to the foreign investment market, concentration of the domestic market of financial tools and the need to further raise the efficiency of the mechanisms of the overall redistribution of financial resources between economic activities.