Despite its short history, Delta Bank quickly gained popularity among the population. For low- and middle-income people, a financial institution allowed them to purchase goods by installments or to take loans in cash. The bank easily survived the economic crisis in Ukraine in 2008. Today, things are not so smooth.
A bit of history
PJSC Delta Bank was registered only in February 2006. In a short time, he gained wild popularity among the population. The main founder is Nikolai Lagun. The financial institution began to develop at lightning speed thanks to consumer lending. In almost every equipment store there was a representative of the organization who offered to get a loan for the goods. A little later, a new product was introduced - credit cards.
It is considered the universal institution of Delta Bank PJSC. Customer reviews show that it was possible to order and arrange a variety of financial products. But at the beginning of its activity, it was small consumer loans that occupied the bulk of the portfolio. Perhaps it was because of this that inflation was able to survive in 2008. After all, those banks that mainly focused on mortgages and car loans suffered mainly.
About a financial institution today you can hear a wide variety of reviews. Delta Bank (Ukraine) has a fairly extensive network of branches. In 2014, 222 branches were opened throughout the country. Clients could easily pay loans or deposit money on deposits without commission. Only the cardholders remained dissatisfied. After all, the ATM network of this financial institution was too small.
Customer credit
The financial institution made the main bet on the middle and low income population. Issued loans for goods up to 20 thousand hryvnia. These were simple consumer loans without collateral. Many customers were pleased that only a passport and identification code were required to sign the contract. The whole transaction process took only 40 minutes. The client filled out an application with basic data and waited for a response from the credit examination. After some time, a person could go home with the purchased goods.
The maximum term for which it was possible to obtain a consumer loan was 36 months. Sufficiently loyal terms were then offered by Delta Bank. Customer reviews on loans were mostly positive. Indeed, often a financial institution held shares and offered to purchase goods at 0% per annum.
Credit cards
In 2007, the bank introduced a new product - credit cards. Now, in order to purchase goods, customers did not need to contact the bank or the point of sale. Money could be withdrawn from a credit account at any time or paid in a store through a terminal. Credit cards received a wide variety of reviews. Delta Bank (Ukraine) initially provided two types of credit cards. A universal product was offered to customers who applied to a financial institution for the first time. It was a card with a credit limit of up to 3000 UAH. and interest rate of 23% per annum. There was also a loyal financial product. This is a credit card that was offered to customers already cooperating with the bank. The credit limit was 5000 UAH., And the interest rate - 19% per annum.
Thanks to plastic cards, the financial institution managed to significantly increase its loan portfolio. Almost every client who once entered into an agreement with the bank and was satisfied, sought to issue a credit card as well. In 2008, during the economic crisis, plastic cards were discontinued. The product returned (with slightly different conditions) only in 2010.
Collaboration with investors
From the very beginning of its activity, a financial institution attracted investors. The deposit agreement could be executed in both national and foreign currencies. Time deposits were mostly popular. Clients had the opportunity to put money at 18% in national currency and at 9% in foreign currency. During the economic crisis, interest on deposits increased significantly. People were afraid to trust their savings to financial institutions. Found an approach to its customers Delta Bank. Feedback from investors in 2008-2009 can only be heard positive. After all, then it was possible to issue a deposit in hryvnia at 24%! People who were not afraid of the crisis and entrusted their money to the bank were able to significantly increase their capital.
Things were much worse in 2014. Customers who were frightened by the jump in the national currency began to terminate their deposit agreements ahead of schedule. Someone was able to immediately return their money. And someone has not taken the entire amount to this day. Meanwhile, all the money depositors must return “Delta Bank”. Reviews of deposits that were issued earlier are mostly positive. And this is due not only to the competitive interest rate, but also to the cooperation of the bank with the Deposit Guarantee Fund for individuals. This means that the money of each investor must be returned within 150 thousand UAH.
Mortgage at Delta Bank
Mortgage lending financial institution began to offer not at the very beginning of its activities. Only selected employees could get housing on credit. Such a financial product became publicly available only in 2013. Fairly loyal terms were offered by Delta Bank. Mortgage reviews were only positive. People with formal employment and stable income could buy an apartment on credit at 9% per annum. The maximum loan term is 15 years. During this time, it was possible to fully pay off debt obligations.
And in foreign currency he proposed to draw up a Delta Bank mortgage agreement. Customer reviews began to deteriorate significantly when the country was hit by an economic crisis. The exchange rate of the foreign currency against the hryvnia has grown, and not everyone could repay the minimum payment for housing. People who promptly turned to the bank and explained their situation went forward: lending conditions were simplified.
Car loan
It was possible to buy a car on credit with the help of Delta Bank back in 2006. But then a financial institution offered only one financial product in this area. Customers could purchase in installments only a used car and at 16% per annum.
Since 2010, he began to issue loans to Delta Bank for new cars. Customer reviews then were mostly positive. This was explained by the loyal terms of the contract. The maximum loan term was 7 years. And the interest rate directly depended on the client’s income level and the brand of car that he wants to purchase. There were only age restrictions. Clients could conclude an agreement from 25 to 60 years.
In 2014, car loans were suspended. The Bank continued to cooperate only with those customers with which contracts were concluded earlier.
Current accounts
Starting in 2010, Delta Bank began to attract corporate customers. Customer reviews show that economists sought to attract as many potential investors as possible. Contracts were concluded with various organizations and foundations. Many began to receive salaries on the card of a financial institution. According to the same principle, Delta Bank offered to arrange social payments. Pension card reviews had the most diverse. Most of the customers were satisfied. Indeed, under the terms of the contract, a percentage should be accrued on the positive balance of plastic. It turns out that the usual pension card was also funded.
Not pleased customers only the lack of ATMs. It was possible to withdraw money from a card without interest only at a bank branch.
"Delta Bank". Employee Reviews
For many young professionals, Delta Bank PJSC is a great opportunity to start a career. The top management of a financial institution has always adhered to a loyal personnel policy. Even last-year university students with a specialized bias could become an economist at the bank. In order to work as a credit inspector, it was not necessary to have an education in the economic sphere. The main thing is that the person is easily trained and sociable.
Employees of a financial institution always spoke well of him. Timely pay, a friendly team and regular corporate parties - what else should be the perfect job?
Interim administration
Unfortunately, the bank failed to survive the crisis of 2014. The management did its best to pull the financial institution to a normal level. But huge inflation has done its job. Already in March 2015, a provisional administration was introduced at Delta Bank. Feedback from investors shows that if you manage to get your money back during the crisis, it will not be so simple. We have to stand in long lines to get a personal welcome to the leadership. Economists reassure that all the money depositors will be returned. It only takes time.