Under favorable economic, military, and political conditions in 2024, rates for bank loans and deposits may decrease by an average of 3%, according to the head of Globus Bank, Serhii Mamedov.
He assumes the regulator may further lower the discount rate in a stable economic situation. As a result, the funds used by banks to develop their credit products will become cheaper.
Mamedov believes that in 2024 it will be optimal to reduce the discount rate from the current 15% to 12-14%, which will potentially stimulate banks to develop lending under the most favorable conditions for borrowers – interest rates may decrease by an average of 3-4% on loans.
At the same time, a stable and strong hryvnia will be a reason to lower hryvnia deposit rates by an average of 2-3%. However, considering the projected minimum inflation, citizens’ income will remain reasonably high.