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
IMF loans have turned out to be the most expensive for Ukraine. As of October 2023, the average cost of servicing all loans granted to Ukraine by external official creditors is about 2.1% per annum, said former NBU executive Bohdan Danylyshyn. According to him, IM... #BohdanDanylyshyn #imf #IMFloans #LoansForUkraine #nbu
The National Bank explained why prices fell in October. The regulator noted that inflation has continued to slow down, primarily due to further growth in the food supply and the preservation of stability in the foreign exchange market. Thus, in October con... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
The NBU is studying the use of central banks’ retail digital currencies. The National Bank of Ukraine is exploring the possibility of using retail digital currencies from central banks, or CBDCs, for cross-border operations, the NBU said. As the central bank explained, who... #CBDC #digitalcurrency #DigitalCurrencyUkraine #E_hryvnia #nbu
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
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
By the end of the year, Ukraine needs to attract more than $9B in international aid, which will decrease in 2024-2025. The amount of international financial aid that Ukraine has received this year will exceed $45B, but in the next two years it will gradually decrease to $38.5B and $25B, respectively, the NBU predicts.... #financialaidforUkraine #imf #nbu #SupportUkraine #UkraineBudget
The IMF has started reviewing the EFF program with Ukraine. On November 6, the IMF mission began discussing the second review of the extended financing program with Ukrainian authorities, said IMF Resident Representative to Ukraine, Vahram Stepanyan. The NBU c... #AndriiPyshnyi #EFFprogram #imf #IMFprogramforUkraine #nbu #VahramStepanyan
Large harvests allow the NBU to improve its GDP forecast for this year. According to the Inflation Report for October, an estimate of real GDP growth is due to a better-than-expected harvest of major crops. The National Bank improved its real GDP growth estimate by the en... #GDPinUkraine #HarvestUkraine2023 #KakhovkaHPP #nbu #UkraineEconomy
The National Bank and the Ukrainian government have updated price forecasts in Ukraine. At the end of this year, consumer price growth will slow to 5.8% from 26.6% in 2022. The faster-than-expected inflation decrease is primarily the result of greater food supply following higher harvest... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
How will the Ukrainian income and employment situation change over the next two years? According to the NBU, unemployment will continue to decline but remain higher than pre-invasion levels. It is expected to decrease to almost 19% this year, to 16.5% next year, and below 15% in 2025. T... #nbu #SalaryUkraine #UkraineIncome #UnemploymentUkraine
Ukrainian business modestly assessed the results of its work in October. “Remaining significant security risks, destruction of production facilities, exporters’ logistical restrictions, narrowing of investment demand, growth of fuel prices, and shortage of qualified ... #BusinessActivityExpectations #nbu #UkraineBusinessActivity #бізнесвУкраїні
Liquidated Zlatobank is for sale with a starting price of more than ₴10B. The Deposit Guarantee Fund liquidated Zlatobank and will sell its assets at auction on November 15 in the Prozorro.Sales system. The initial price for the bank’s assets is almost ₴10.6B ($290M). The l... #nbu #PrivatizationUkraine #ProzorroAuction #Prozorrosales #Zlatobank
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
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
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
The mortgage lending market has picked up in Ukraine. In August, Ukrainian banking institutions issued 626 mortgage loans for a total amount of ₴900.9M, the NBU reported. In August, the volume of loans granted to consumers increased by 2.6% compared to J... #eOselya #MortgageProgram #MortgagesUkraine #nbu
Inflation in Ukraine fell to 7%, and Ukrainians’ income increased. Consumer inflation in Ukraine slowed to 8.6% in August thanks to a larger than expected supply of new-harvest vegetables and fruits. According to the NBU’s estimates, the slowdown in inflation w... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy #UkraineIncome
The NBU will revise its 2023 forecasts for GDP and inflation toward improvement. As the Deputy Chairman of the NBU, Serhii Nikolaychuk, noted, the situation in the agricultural sector has contributed to the positive changes. “In recent months, inflation has been falling more... #GDPinUkraine #InflationinUkraine #nbu #SerhiiNikolaychuk #UkraineEconomy
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
Inflation in war-torn Ukraine is at a lower rate than in peaceful European countries. As stated in an Inflation Survey from the Ministry of Economy, domestic prices fell by 1.4% in August thanks to the arrival of the newly harvested crops on the market. This ensured the return of annua... #EUinflation #InflationinUkraine #nbu #pricesinUkraine
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
The profitability of consumer hryvnia deposits is falling due to a decrease in the discount rate. Since July 2023, the National Bank of Ukraine has reduced the discount rate twice in a row: from 25% to 22%, and then to 20%. Because of this, rates on hryvnia term deposits of individuals have begun ... #DepositsInterestRate #HryvniaDeposits #nbu #NBUinterestrate #OVDPselling
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
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 Ukraine banking system continues to increase its liquidity and profitability. The highest results were shown by banks that preferred NBU certificates of deposit, the Standard-Rating Agency reports. In the first half of 2023, the quality of banks’ loan portfolios declined.... #nbu #NPL #PrivatBank #UkraineBankingSystem #UkraineBanksProfits
The NBU expects to attract an additional UAH 20B from an increased tax on bank profits. The regulator proposes to increase the bank profit tax rate from 18% to 38% for 2023-2024, NBU Chairman Andriy Pyshnyi said. According to him, this tax structure will have a limited impact on macro-fi... #AndriiPyshnyi #nbu #TaxesUkraine #UkraineBanksProfits #UkrainianBanks
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
Analysts comment on the price trends in the Ukrainian consumer market. Prices for food products and non-alcoholic beverages in August 2023 decreased by 3.7% compared to July, the Center for Economic Strategy reported. Vegetables and fruits fell in price the most (by 4.2%... #InflationinUkraine #nbu #pricesinUkraine #TarasVysotskyi
The flow of private funds to Ukraine is decreasing. The volume of private remittances decreased by 5.8% in July and amounted to $939M, National Bank data shows. In particular, wages from Ukrainians abroad increased by 2.9%, while other private transfer... #MoneyTransfers #nbu #PrivateFunds
Ukraine’s economy grew by 8% in August. The growth of Ukraine’s real GDP in August remained close to 8% compared to August 2022, but the GDP was more than 20% lower than 2021’s level, the Institute of Economic Research (IER) rep... #GDPinUkraine #InflationinUkraine #internationalReserves #nbu #UkraineEconomy
The Ministry of Finance of Ukraine also “positively” revised its forecast for Ukraine’s GDP. According to 2023’s activity, Ukraine’s GDP will grow by more than 3%, Minister of Finance Serhii Marchenko said. “The balance of payments has been adjusted thanks to external infusi... #EUEconomy #GDPinUkraine #nbu #SerhiyMarchenko #UkraineEconomy
Inflation in August fell to 10% for the first time since June 2021. According to the schedule published by the National Bank, inflation slowed to approximately 10% in August. The last time annual inflation in Ukraine was observed below 10% was in June 2021 (9.5%). In ... #FoodPriceUkraine #InflationinUkraine #nbu #UkraineEconomy
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
The Ukrainian economy is recovering faster than the NBU forecast. The absence of power outages and the further improvement of supply routes, including through the western borders, all have contributed to the Ukrainian economy’s growth, the National Bank of Ukr... #GDPinUkraine #nbu #UkraineEconomy
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
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
What consumer prices and dollar exchange rates do Ukrainians expect? According to the NBU, both financial analysts and the public expect a slowing trend to the growth of consumer prices. Financial analysts in July predicted that inflation would be 12% over the next 12 ... #currencyexchange #dollarexchangerate #Hryvnia #InflationinUkraine #nbu
