In Ukraine, the yield on deposits has increased, but loans have become more expensive.

In December 2023, the average bank interest rate on new consumer hryvnia deposits amounted to 11.7% per annum. A year ago, the  figure was 8.2%, NBU data shows.

Rates on new consumer deposits in foreign currency increased from 0.7% to 1%. Interest rates on commercial hryvnia deposits rose from 7.6% to 10.3% per annum, and foreign currency fell from 1.4% to 0.5% per annum. Bank deposit portfolios grew by 26.4% to ₴2.4T.

Meanwhile, the average interest rate on new consumer hryvnia bank loans in December amounted to 33.7% per annum. Over the last year, rates increased by 4.3 percentage points. Interest rates on household loans in foreign currency increased from 5.3% to 6.4% per annum. Interest rates on commercial hryvnia loans have risen from 16.6% to 17.5% per annum, and for foreign currency loans from 4.6% to 6.4%.

The total loan portfolio decreased by 1% to ₴998B.