Lending to businesses and households in Ukraine has been growing for a year and a half; rates have been reduced for both loans and deposits.

According to the NBU, in the third quarter of 2024 loan portfolio volume increased by 22.4%. Hryvnia business loans grew by 6.9%, and individual loans increased by 9.7%. Loans in wholesale trade and the agricultural sector grew especially actively, and the share of small and medium-sized enterprises (SMEs) reached 60% of total commercial loan volume. The improvement of lending conditions is contributing to the growth of loan demand, including mortgages, mainly through the state program eOselya. In the third quarter, banks lowered interest rates on deposits and loans. The average rate on consumer deposits is 9.6% per annum, and on loans – 28%. Business rates decreased slightly during July-August, returning to 8.5% per annum in September. Market rates for hryvnia loans have stabilized: for businesses, it is about 15% per annum, and for households, it is slightly below 28% per annum. Rates for new loans to large enterprises remained lower than for SMEs.