Almost all banks expect a further decrease in deposit rates for households and corporations over the next 12 months, according to the results from an NBU survey. In the third quarter, banks expect an increase in deposit volume from both the population and businesses. Bank’s average cost decreased for the fourth quarter in a row.
According to the survey, since the second quarter of 2021 a share of respondents reported a decrease in deposit rates for commercial and consumer funds. In the second quarter, respondents noted a significant increase in liabilities. The NBU survey had 26 financial institutions participate, with their share in the banking system’s total assets totaling 96%.
In June, banks’ average interest rates on new hryvnia consumer deposits amounted to 10.8% per annum, which is 0.2 percentage points lower than in May. The biggest impact on the rate of household deposits is the rate on NBU deposit certificates, which was reduced to 16.5% in April.