Ukrainian bankers learn U.S. practices in Cape

Ukrainian banker Oleg Kovalenko thought when he arrived at an American financial institution, he would see customers lining up to have money flung at them, regardless of collateral or credit.

"I had that stereotype," Kovalenko said. "But it's like getting a loan in other places. You have strict regulations here too."

Admittedly, some American-style banking was pretty foreign to Kovalenko and his Ukrainian colleague, Inna Sharapova. That's why they are visiting various Missouri banks and credit unions this month, including a stop at First National Bank in Cape Girardeau on Thursday.

"We want to see how banks here do things," Sharapova said. "It's all been so interesting. I'm impressed very much with the banking atmosphere."

Their visit is sponsored by the U.S. State Department's Community Connections Program, which brings small business entrepreneurs from all of the former Soviet Union republics to the United States.

The program's goals are to provide participants with professional training and exposure to a free market system, encourage public-private partnerships and creating links between places like Armenia, Belarus and Russia.

While in Cape Girardeau, Kovalenko and Sharapova were given a tour of local manufacturer RM COCO Fabrics, and later were linked up with their local counterparts at First National Bank.

There, they participated in discussions on attracting new customers, the U.S. market and corporate and private lending.

"I'm proud to share our organizations and our community with another culture," said First National Bank branch manager Viney Mosley, who was one of the coordinators of the visit. "We're a community bank and this is a great way to share information with another community bank, but on a global level."

By the Black Sea

Both Kovalenko and Sharapova work at Premier Bank in Dnipropetrovsk, a city of 1.1 million in east-central Ukraine, which borders the Black Sea and is situated between Poland and Russia.

Kovalenko, 40, is the director of finance of the bank that has five branches and 375 employees.

Sharapova, 30, has a title called "dealing division manager," which means she works with other Ukrainian banks dealing with foreign exchange and money. She also works with customers seeking loans.

There are similarities between both banking cultures. Both American and Ukrainian consumers have bank check cards, interest-bearing accounts and Internet banking.

But there are differences too.

"Americans are very close to their customers," Kovalenko said. "In Ukraine, bankers still sit at desk and wait on customers. Here, it seems there are very rich, interpersonal relationships between bankers and customers. We need to work toward that."

But both pointed out that private banking in Ukraine, which has more than 50 million people in a country slightly smaller than Texas -- is still in its infancy. Until Ukraine gained its independence from the Soviet Union in 1991, banks were state-owned.

America has had privately owned banks for years.

"We have only done it for 10 years," Kovalenko said. "We are moving forward."

According to Ukrainian daily newspapers, lending grew 10 times faster than the GDP last year in Ukraine. Last year saw a 150-percent rise in deposits to more than 19 billion hrivnas, or about $14 billion.

Ukrainian banks have been rapidly expanding their lending, too, with assets climbing by 34.5 percent in 2002. Meanwhile, the proportion of bad loans declined from 5.8 percent to 4.5 percent.

Sharapova and Kovalenko left Thursday afternoon to see First National Bank's St. Louis operations. Tomorrow night, they're going to catch a St. Louis Cardinals game.

Next week, they start internships, Kovalenko at a credit union and Sharapova at a bank. Before they return to Ukraine at the end of the month, Sharapova hopes to visit a water park or a festival.

Kovalenko's interests suggest he would fit in well in Southeast Missouri: "I would like to see a country music concert and see the rodeo."

smoyers@semissourian.com

335-6611, extension 137