The war destroyed foreign currency lending in Ukraine. The Russian full-scale invasion has practically destroyed the demand for foreign currency loans, contributing to the reorientation to lending in the national currency, which is a good indicator for th... #BankLoans #CreditPortfolio #financeUkraine #nbu
This year, the tax on bank’s excess profits may be increased to 50%. The Ministry of Finance will initiate changes to the draft law that was passed in the first reading regarding the taxation of excess bank profits for additional revenues for the state budget next year... #financeUkraine #nbu #TaxesUkraine #UkraineBanksProfits #UkrainianBanks
The government will pay the NBU more than ₴120B for printing the hryvnia last year. According to the National Bank’s calculations, in 2023 the total amount it will receive from the Ministry of Finance for government bonds (OVDP) in its portfolio will amount to ₴120.75B, analysts writ... #BondUkraine #financeUkraine #HryvniaEmission #nbu #OVDPselling
The Ukrainian Treasury lost ₴45M in the first month after introducing a flexible exchange rate. The State Treasury’s hryvnia revenues from the sale of foreign currency following the abolition of the fixed dollar exchange rate were ₴45.18M less than they could have been if the exchange rate had r... #CurrencySale #dollarexchangerate #financeUkraine #UkraineBudget
Ukraine lost almost $49B in 2016-2022 due to insufficient attention to the crypto industry. Legalization of the crypto industry in Ukraine without additional incentives could generate an amount that is 4.9% of GDP. Since 2016, Ukraine has lost $48.8B in direct income to its population and co... #CryptoCurrencyUkraine #CryptoIndustryUkraine #financeUkraine
Hryvnia deposit profits will change in Ukraine. In November, Ukrainians can expect a drop in interest rates on hryvnia deposits. Interest will be 14-14.5% on average, but the return on deposits may rise to 6-7%, the experts say. This month, the mai... #BankDepositsinUkraine #financeUkraine #HryvniaDeposits #nbu
Ukraine’s international reserves decreased for the third month in a row. In October, they fell by 1.9% to $38.97B, NBU data shows. The bank explains that the dynamics last month were caused by the NBU’s interventions and the country’s debt payments in foreign c... #CurrencyMarket #financeUkraine #NationalBankReserves #nbu #UkraineInternationalReservs
Ukrainians increased their cash savings by $8B. Foreign currency remains the preferred form of savings for Ukrainians. Since the beginning of 2023, the volume of cash foreign currency belonging to citizens and businesses has increased by $8B, said ... #BohdanDanylyshyn #CashCurrency #CurrencySale #financeUkraine #HryvniaDeposits
The NBU plans to lower the key policy rate to 15% in December. A majority among members of the NBU’s Monetary Policy Committee expect the discount rate to decrease by one percentage point to 15% in December, the NBU reported. Accordingly, adjustments to other NBU... #financeUkraine #KeyPolicyRate #nbu
The NBU has lowered the key policy rate to 16% per annum. The Board of the National Bank has decided to reduce the discount rate from 20% to 16% per annum starting October 27. By doing this the National Bank will make it equal to the rate on overnight certif... #financeUkraine #InterestRate #KeyPolicyRate #nbu
The Ministry of Finance has attracted almost ₴23B from the sale of OVDP bonds. On October 24, the Ministry of Finance placed domestic state loan bonds (OVDP) for the total amount of ₴22.91B, significantly reducing the rates for securities denominated in hryvnia. The state receiv... #financeUkraine #KeyPolicyRate #nbu #OVDPselling #UkraineBond
The flow of foreign currency to Ukraine is decreasing, increasing risk for the hryvnia. Over the past few months, currency inflows to Ukraine have significantly decreased, which is explained by two factors: the deficit of foreign trade and the reduction of financial aid from partner coun... #financeUkraine #financialaidforUkraine #foreigncurrency #Hryvnia #UkraineForeignTrade
Banks forecast a decrease in deposit rates, but Ukrainians keep increasing their balances. Most financial institutions expect a decrease in the amount of deposited funds in the fourth quarter of 2023, according to the survey by the NBU. Instead, third quarter data shows an increase in house... #BankDepositsinUkraine #DepositGuaranteeFund #financeUkraine #nbu
Bankers predict that in 2024 businesses will need ₴100-150B under the State Program Affordable Loans at 5-7-9%. Bankers think that this demand will be observed from small and medium-sized businesses. It is assumed that, depending on the interest rate, the loan amount, etc., that in 2024 the potential number of ... #5-7-9loanprogram #AffordableLoansUkraine #BankLoans #financeUkraine
Demand for loans is recovering in Ukraine. In the third quarter, banks recorded increased demand for commercial and individual hryvnia loans, the NBU reports. Most banks expect further commercial and retail loan portfolio growth in the next 12... #BankLoans #CreditPortfolio #financeUkraine #nbu
Bankers lower their expectations for the hryvnia to dollar exchange rate for the next year. Bankers, financial analysts, business managers, and private individuals predict that the exchange rate will be close to ₴40/$1 or higher in the next 12 months, reported the NBU. In October 2023, finan... #dollarexchangerate #financeUkraine #Hryvnia #nbu #SerhiiNikolaychuk
Ukrainians hold more than $100B in cash. The total amount of cash savings belonging to consumers and businesses in foreign currency outside banks in Ukraine is $116B, NBU Council member Bohdan Danylyshyn said. “Households and businesse... #AssetsOfUkrainians #CashCurrency #financeUkraine #nbu #ukraineassets
Military bonds in September brought the budget ₴23B. According to the Ministry of Finance, about ₴185B in military bonds were issued in the nine full months of the year. As of the end of September, Ukrainian citizens owned military bonds worth about ₴25... #BondSalesUkraine #financeUkraine #UkraineBond #UkraineBudget #Ukrainemilitarybonds
This year, the sale of state debt securities replenished the budget with ₴400B. In the nine full months of the year, the Ukrainian government raised almost ₴400B ($11B) in equivalent from the placement of OVDP bonds at auctions. In total, more than ₴650B has been raised during ma... #financeUkraine #MilitaryBond #nbu #UkraineBond #UkraineBudget
The NBU is introducing a flexible dollar exchange rate. As the National Bank explained, “The regulator will carefully monitor the situation in the foreign exchange market and remain a key player. To provide stability, the NBU will compensate for the ... #CurrencyMarket #dollarexchangerate #financeUkraine #Hryvnia #nbu
Since the war began, Ukrainian banks have exported more than $720M worth of currency and metals and imported $10.4B. In particular, through August, banks exported more than $537M in cash abroad, NBU statistics show. Most likely, the banks exported the cash to exchange abroad for electronic currency. Perhaps these ar... #financeUkraine #foreigncurrency #PreciousMetals #Ukraineinternationalreserves
The NBU favors reducing the key policy rate to 18% by the end of the year. Nine out of 11 NBU Monetary Policy Committee members spoke in favor of lowering the discount rate to 20% in September. The majority of committee members decided that a moderate 2% discount rate reduct... #financeUkraine #KeyPolicyRate #nbu #UkraineEconomy
Ukrainians are depositing more money: individual deposits increased by ₴5.2B in August. The total amount of consumer deposits (including individual entrepreneurs) in Ukrainian banks in August 2023 increased by ₴5.2B, and on September 1, is ₴1.115T, the Deposit Guarantee Fund reported. Of... #BankDepositsinUkraine #financeUkraine #HryvniaDeposits #UkrainianBanks
US and German securities have entered circulation in Ukraine, and foreigners can buy Ukrainian bonds online. As the Ministry of Finance clarified, “This became possible thanks to the joint efforts of the Ministry of Finance, the National Securities Commission, the NBU, and the ICU financial group, whic... #BondsUkraine #financeUkraine #GermanSecurities #OVDPselling #USsecurities
Since the war, Ukrainians and businesses have increased their purchases of military bonds by 59%, while communities have spent only 1.1%. According to the Ministry of Finance, as of September 20 Ukraine’s citizens increased the OVDP portfolio by ₴22.2B (by 87%) to ₴ 47.7B. Legal entities increased their security purchases by ₴39.9... #BondsUkraine #financeUkraine #OVDPselling
In the second quarter, Ukraine’s gross external debt increased to 92.7% of GDP. The amount of debt increased by $8.8B and, at the end of the half-year, amounted to $148.6B, the National Bank informs. In the second quarter, the public sector’s external debt increased to $84.... #financeUkraine #GDPinUkraine #nbu #ukrainedebt #UkraineEconomy
Ukraine will start selling military bonds abroad. According to the WSJ, Ukraine wants to sell military bonds to foreign individuals, mainly from Western Europe, as the government continues to seek ways to finance its military spending. According to a... #BondSalesUkraine #financeUkraine #nbu #ukrainebonds #UkraineEconomy
The NBU has eased currency restrictions to improve the FX market’s operation. As National Bank reported, starting from 16 September 2023, when calculating the amount of cash foreign currency that can be sold in the FX market, a bank or a nonbank financial institution will take ... #currencyexchange #CurrencyRestrictions #CurrencySale #financeUkraine #nbu
The yield on deposits fell, and loans in the national currency became cheaper. The average rate in August for new consumer hryvnia deposits decreased to 12.2% per annum and for businesses to 13.4%, according to data from the National Bank. At the same time, the average interest ... #BankLoans #financeUkraine #LoanPortfolio #nbu #UkraineDeposits
The National Bank has cut the key policy rate to 20%. On September 14, the board of the National Bank decided to reduce the discount rate to 20%, announced the board chairman of the NBU, Andriy Pyshnyy. He noted that the further slowdown of inflation and... #AndriiPyshnyi #financeUkraine #KeyPolicyRate #nbu
Since the war began, bonds tied to Ukraine’s GDP have increased in value to the highest level. The price of Ukraine’s GDP warrants, according to the results of the September 8 auction, increased by approximately two percentage points – up to 49.2% of the nominal value. This is the h... #AnthonyBlinken #BondsUkraine #financeUkraine #UkraineEconomy #UkraineSecurities
Ukraine will start raising taxes on banks first if the IMF requests higher taxes. As of today, the Ministry of Finance does not foresee changes in the tax system anytime soon, and there is no need to talk about tax increases, Minister of Finance Serhiy Marchenko said at the EBA Glo... #financeUkraine #imf #SerhiyMarchenko #TaxesinUkraine #UkrainianBanks
Ukraine is preparing to turn a state bank into a development bank. The goal is to turn one of the state banks into a development bank, similar to KfW in Germany, said the head of the Parliamentary Committee on Finance, Danylo Hetmantsev, during the Yalta European Str... #DanyloHetmantsev #financeUkraine #KfW #UkraineRecovery #UkraineStateBanks
Due to reduced international aid, Ukraine’s international reserves decreased by 3.2% in August. As of September 1, the aid volume was about $40.4B, dropping by $1.4B in August, the National Bank reported on Wednesday. The reason for the decrease was the NBU’s FX sales to cover the differen... #financeUkraine #financialaidforUkraine #foreignexchangemarket #internationalReserves #nbu
The NBU expands the list of reserve bonds and reported on income from the sale of securities. Starting September 11, the National Bank will increase the list of benchmark bonds of the domestic state loan, through which banks can cover part of their required reserves, the regulator said in a st... #Bonds #financeUkraine #nbu #OVDPselling #ukrainebonds
Ukraine’s state budget deficit increased to almost UAH 131B in August. The state budget deficit in August 2023 amounted to UAH 130.7B, compared to UAH 107.6B in July, the Ministry of Finance reported. It is noted that cash expenditures in the state budget increased signi... #financeUkraine #financialaidforUkraine #UkraineBudget #UkraineBudgetDeficit #UkraineIncome
The Ministry of Finance has announced the main financial indicators for the 2024-2026 budgets. The Ministry of Finance has published instructions for preparing budget requests for the next year. The document suggests setting the dollar exchange rate at UAH 41.4 to $1 for the 2024 state budget p... #dollarexchangerate #financeUkraine #InflationinUkraine #SalaryUkraine #StateBudgetUkraine
Ukraine has fulfilled another IMF beacon: the new Financial Sector Development Strategy. This blueprint for developing the financial sector during the war envisages inflation at a level of less than 15% and possible deviations of the hryvnia to dollar cash rate from the official rate belo... #financeUkraine #imf #IMFStructuralBeacons
Ukraine has eased currency restrictions to strengthen the national currency. As of August 29, banks are now allowed to sell non-cash foreign currency without confirming the grounds or obligations for such a transaction, the NBU reported. The National Bank specified that this a... #CurrencyRestrictions #financeUkraine #nbu
The upward trend in bank deposit rates declined due to the NBU’s reduced key policy rate. Ukrainian banks began to retreat from record high deposit rates on consumer deposits after the NBU beganits discount rate reduction cycle in July, when it was reduced from 25% to 22%, according to ind... #Depositrates #financeUkraine #nbu
National Bank assets increased by 17%, and profit reached UAH 43B. The result of the NBU’s activities, according to the results of the first half of the year, was a net profit of more than UAH 43B ($1.17B), and the bank’s assets increased by 17% to UAH 2.... #financeUkraine #internationalReserves #nbu #NBUassets
The popularity of microcredits is growing in Ukraine. As well, there is a decrease in the average loan amount, reported Opendatabot. In the first half of the year, 3.8 million microloans were issued for a total of UAH 18.4B. For comparison, in 2022 Ukrai... #financeUkraine #LoansUkraine #MicroCrediting
Ukraine is in the top five world leaders for contactless payments. For the past five years, Ukraine has consistently been among the top ten countries regarding the number of NFC payments. As noted by Mastercard, the share of payments with smartphones and NFC devices ... #DigitalizationOfUkraine #financeUkraine #mastercard #nbu #NFCpayments
The yield on deposits in Ukraine is growing, and lending is recovering. In the second quarter, due to the NBU’s measures, banks will continue to increase interest rates on time deposits. According to the bank, on average, the return on a three-month individual depos... #CreditPortfolio #DepositsinUkraineBanks #financeUkraine #LendingInUkraine #nbu
The National Bank is easing currency restrictions in Ukraine. The NBU introduced additional measures to prevent unproductive outflow of capital from Ukraine and ensure the foreign exchange market’s stability. Thus, from August 12, 2023, the NBU will introd... #CurrencyRestrictions #financeUkraine #nbu
The key policy rate in Ukraine will decrease to 18%. Seven members of the Monetary Policy Committee of the National Bank expect a reduction in the discount rate to 18%-19% at the end of 2023. They are convinced that considering the expected decrease in ... #financeUkraine #KeyPolicyRate #nbu
Interest rates on deposits in the national currency are rising in Ukraine. In June, after the NBU announced the possibility of lowering the key policy rate, rates on retail deposits of various maturities continued to grow. The weighted average rate on new consumer deposits i... #DepositsInterestRate #financeUkraine #HryvniaDeposits #nbu
In July, the Ministry of Finance collected $5.3B in revenue. Since the beginning of the year, the Ministry of Finance has gathered more than $28B for the budget, and in July alone, $5.3B. Grant funds compose about 25% of the total financial assistance. Among th... #financeUkraine #financialaidforUkraine #SupportUkraine #UkraineBudgetRevenue
The National Bank cuts the key policy rate to 22%. The Board of the National Bank of Ukraine has cut the key policy rate from 25% to 22%, effective 28 July, 2023. Rapid disinflation and sustained stability in FX market conditions has enabled the centr... #CurrencyRestrictions #financeUkraine #InflationinUkraine #KeyPolicyRate #nbu
Ukrainian banks plan to ease lending for businesses and the public. In the third quarter of this year, banks plan to ease lending conditions for small and medium-sized businesses, reported the National Bank of Ukraine. The central bank made this decision in response t... #financeUkraine #LendingInUkraine #LoansUkraine #nbu
