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
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
During the first half of the year, Ukrainian banks generated record profits. The National Bank of Ukraine reported that banking organizations earned UAH 67.6B ($1.85B) in six months, the National Bank of Ukraine reported. Net operating profit before deductions to reserves incr... #nbu #UkraineBanksProfits #UkrainianBanks
The National Bank expects the state budget deficit to grow next year. In July, the regulator lowered its forecast for this indicator to 16.8% of GDP. Thus, considering grants, it is predicted that the consolidated budget deficit will reach UAH 1.28T. In the April report... #GDPinUkraine #nbu #UkraineBudget #UkraineBudgetDeficit #UkraineEconomy
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
The NBU predicts a slight increase in oil prices in the second half of the year, against the background of the global economy’s upturn, particularly in China. In the rest of the year, prices will be under downward pressure due to the active production increase in the US and ... #gasprices #GlobalOilPrices #nbu
The NBU expects Ukraine’s GDP to grow by 2.9% this year and notes the positive impact of military aid to Ukraine on the economy of Western countries. As noted in the July National Bank Inflation Report, economic growth will accelerate in the coming years, considering the National Bank’s assumption that security risks will decrease in mid-2024... #GDPinUkraine #InflationinUkraine #nbu #UkraineEconomy
The demand for labor is recovering in Ukraine, and wages are increasing. According to the National Bank, the situation in the labor market remains challenging: The unemployment rate decreased slightly during the first half of the year but remained high. The dynamics of lab... #nbu #SalaryUkraine #UkraineLaborMarket #UnemploymentUkraine
Ukraine expects at least $37B in international aid in 2024. In 2023, Ukraine expects $42B in international assistance, and next year it expects at least $37B, said the head of the NBU, Andriy Pishnyi, during an interview for ICTV. He says Ukraine’s budge... #AndriyPishnyi #financialaidforUkraine #nbu #UkraineBudget #UkraineBudgetRevenue
The volume bad loans decreased by UAH 7B in the year’s first half. The amount of non-performing loans (NPL) in the banking sector as of July 1, 2023, was UAH 425B, which is UAH 7B lower than the figure on January 1, reported the National Bank. At the same time, the s... #BankLoans #LoansUkraine #nbu #NPL
Business expectations worsened in July across all sectors. The business activity expectation index, calculated by the National Bank (NBU) in July, fell by two points to 48.8 on a scale from zero to 100 after three months of being on the positive side of the s... #BusinessExpectation #nbu #UkraineBusinessActivity #UkraineEconomy
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
The NBU improves its GDP forecast for this year but lowered it for 2024. The national bank expects the Ukrainian economy to grow by 2.9% this year compared to the previous forecast of 2%. The further recovery of Ukraine’s economic activity will be facilitated by the ... #GDPinUkraine #nbu #UkraineEconomicActivity #UkraineEconomy
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
The NBU might allow a flexible exchange rate for the dollar even before the end of the war. According to the Deputy Chairman of the National Bank, Serhii Nikolaychuk, last week the strategy of softening currency restrictions, a transition to a flexible exchange rate, and a return to inflatio... #CurrencyRestrictions #hryvniaexchangerate #nbu #SerhiiNikolaychuk
The National Bank says that currency restrictions are losing their effectiveness and restraining economic activity. According to Volodymyr Lepushynskyi, director of the Department of Monetary Policy of the NBU, the disadvantages of this mechanism has begun to exceed the advantages. He added that fixing the exchange... #CurrencyRestrictions #financeUkraine #nbu
Ukrainian banks break five-year profitability records. During the first five months of the year Ukrainian banks earned UAH 53.59B, 120% more than the corresponding period in 2021, according to Opendatabot. It is noted that this is the best result in at le... #financeUkraine #nbu #PrivatBank #UkraineBanksProfits #UkrainianBanks
The NBU explained why inflation in Ukraine is falling rapidly and what risks can change the trend. In June, consumer inflation in annual terms slowed to 12.8%. “The slowdown was caused by a greater supply of food and fuel, a decrease in world prices on commodity markets, and an improvement in... #InflationinUkraine #nbu #pricesinUkraine #UkraineEconomy
