The NBU is recognized as the regulator of the year by the Central Banking Awards. For the first time, the National Bank of Ukraine received a title and international recognition for its effective work last year in the war-time conditions. The Central Bank of the Year designation is... #nbu #UkraineBankingSystem
The National Bank’s reserves decreased by $1B and total $28.86B. The NBU reports that reserves decreased by 3.5%, or $1.06B, in February due to the sale of foreign currency to cover the difference between supply and demand in the foreign exchange market. In Februar... #BankReserves #nbu #UkraineInternationalReservs
Electronic residents are allowed to open checking accounts in Ukraine. The relevant decision was made by the National Bank of Ukraine. The regulator explained that it had to be done to comply with the provisions of the law regarding the specifics of taxation of the busin... #ElectronicResidents #nbu #UkraineEResidency
Banks’ demand for “reserve” OVDP bonds has allowed the Ministry of Finance to attract UAH 16B to the budget. According to Ministry of Finance data, UAH 61.74M was received from the sale of annual hryvnia bonds at 18.5% per annum. In addition, the Ministry placed bonds with a 20-month maturity for UAH 14.2M a... #BondsUkraine #nbu #OVDPselling
The National Bank is updating its strategy in response to the protracted war. The National Bank of Ukraine has started forming a revised strategy that considers the transition to a “protracted war phase” and the need for further recovery, said the head of the NBU, A... #AndriyPishnyi #nbu #NBUstrategy
Despite the large volume of currency sales in January, Ukraine’s international reserves grew to $30B. According to the National Bank, during the first month of the year, reserves increased by 5% to $29.9B. The National Bank received $4.33B into the government’s currency accounts during the month... #NationalBankReserves #nbu #Ukraineinternationalreserves
The sale of government bonds brought UAH 12.5B to the budget. The Ministry of Finance, on February 7, auctioned domestic state loan bonds worth UAH 12.5B. Almost half – 46% of this issue – consisted of a 2.3-year benchmark OVDP, with which the NBU al... #BondSalesUkraine #nbu #UkraineGovernmentBonds
During the year of war, the share of non-performing loans increased. The share of non-performing loans (NPL) in the banking sector increased to 38% on January 1, 2023, compared to 30% on January 1, 2022. The volume of problem loans increased by UAH 87B over the year to... #LoanPortfolio #nbu #UkraineNonPerformingLoans
The prime rate will not change before the end of the year. Most of the NBU’s Monetary Policy Committee members are considering keeping the discount rate at 25% at least until the first quarter of 2024. However, some board members assume that the key rate redu... #InflationinUkraine #KeyPolicyRate #nbu #UkraineMonetaryPolicy
In January, Ukrainians increased their purchases of foreign currency to a record amount. In January 2023, Ukraine’s population sold cash and non-cash currency to commercial banks for $1.2B and bought $1.8B. The net purchase of currency amounted to $564M. Thus, in January, Ukrainians incre... #CurrencySale #foreignexchangemarket #nbu
The National Bank continues to sell significant amounts of currency from its reserves. During January 2023, the NBU bought $28.5M and sold $3.11B on the interbank foreign exchange market. The negative balance amounted to $3.082B, according to NBU data. Thus, the central bank slightly re... #CurrencySale #foreignexchangemarket #nbu
Ukrainian banks need to form additional mandatory reserves of UAH 73B. The National Bank has increased mandatory reserve requirements for banks for funds on demand and funds on current accounts. The NBU informed financial institutions that from February 11, reserve stand... #nbu #UkraineBankreserves #UkrainianBanks
The NBU’s 2023 GDP growth forecast has decreased from 4% in October to 0.3% in January. The head of the National Bank, Andriy Pyshnyy, explained that the lowered estimate is due to the consequences from energy terrorism and a revision of the primary assumption regarding the duration of s... #AndriiPyshnyi #nbu #UkraineEconomy #UkraineGDPforecast
During the war, NBU Electronic Payment System operations decreased by 20%. In 2022, the National Bank’s electronic payment system (SEP) worked without interruption and satisfied the needs of both the Ukrainian banking system and its customers for payments in the national cur... #ElectronicPaymentSystem #nbu #UkraineBankingSystem
At the end of the year, Ukrainians deposited UAH 47B in banks. The deposit portfolio grew in December, as it had in previous months. According to the National Bank, Ukrainians deposited almost UAH 35.9B into bank accounts. At the end of 2022, the hryvnia portfoli... #HryvniaDeposits #nbu #UkraineDeposits
The expectations of bankers and financial analysts regarding the hryvnia exchange rate and inflation have improved. According to the National Bank of Ukraine, bankers forecast the hryvnia exchange rate over the next 12 months at UAH 42.70/$1. In October, they expected an exchange rate to be slightly higher at UAH 4... #hryvniaexchangerate #InflationinUkraine #nbu
Over the past year, the budget received UAH 164B and more than 3 billion in foreign currency from the sale of OVDP bonds. According to the National Bank of Ukraine, the Ministry of Finance placed UAH 164.385B worth of hryvnia government bonds last year, which is 42.9% less than in the same period of 2021. Also, the gover... #Bondssale #BondsUkraine #nbu
The NBU has called on international banks to withdraw from the Russian market. The National Bank of Ukraine emphasized the impermissibility of international banks’ cooperation with Russia and Belarus and called on them to fulfill their promises and finally withdraw from th... #InternationalBanksInRussia #nbu #RussianMarket
Banks’ demand for benchmark bonds brought UAH 23.5B to the budget. On January 10, the Ministry of Finance attracted UAH 23.52B to the state budget from the sale of domestic government bonds due to growing demand from banks. According to the Ministry of Finance, UAH 2... #BondSalesUkraine #BondsUkraine #nbu
Ukraine increased its share of international reserves in dollars. The share of US dollars in Ukraine’s international reserves increased from 80.2% to 83.6% in 2022. This happened due to the dollar’s growth against the main world currencies last year. At ... #nbu #NBUInternationalReserves #Ukraineinternationalreserves
The NBU wants to stop the “printing” of the hryvnia and encourages banks to invest in government bonds. The National Bank of Ukraine has allowed banks to cover up to 50% of their required reserves through domestic state loan bonds (OVDP). The NBU believes that this step will contribute to more active ba... #nbu #UkraineBond
The IMF will allow the National Bank of Ukraine to print UAH 50B if needed. In case of a shortage of external financing at the beginning of 2023, the NBU can buy up to UAH 50B of domestic state loan bonds, according to the IMF’s materials on its monitoring program with ... #nbu #UkraineBond #UkraineBudgetDeficit
Ukraine has managed to reduce its public and private debts. During the third quarter of 2022, Ukraine’s gross external debt decreased by $4.3B to $124.2B. Compared to the beginning of the year, the deficit has fallen by $5.5B. At the same time, according to th... #nbu #ukrainedebt #UkraineGDP
The National Bank has bought government bonds for the entire agreed upon amount for this year. The National Bank of Ukraine issued another UAH 15B by purchasing government bonds. In this way, the NBU bought government bonds for the entire agreed amount this year, which totals UAH 400B, reported... #nbu #ukrainebonds #Ukrainemilitarybonds
The National Bank of Ukraine might allow key policy rate reduction in 2023. The members of the Monetary Policy Committee of the NBU, for the fourth time in a row, unanimously spoke in favor of maintaining the discount rate at the level at 25%, while several members supported... #FinancialStabilityUkraine #KeyPolicyRate #nbu #UkraineEconomy
The National Bank names the key parameters to ensure Ukraine’s financial stability. Uninterrupted operation of the financial sector, support for crediting of working enterprises, and measures to strengthen monetary transmission are key areas of focus for maintaining financial stabil... #FinancialStabilityUkraine #nbu #PowerBanking
The amount of cash in the hands of Ukrainians has increased by $10B. According to the National Bank, during March-October 2022, the amount of foreign currency outside the banking system increased by $8.1B, and according to the results of the first 10 months of 2022, by... #CashCurrency #nbu
Ukrainians continue to prefer non-cash payments. In the third quarter of 2022, the total number of non-cash transactions in Ukraine and abroad amounted to 2.15 billion, and their total amount was UAH1.9B, reported by the National Bank. In Ukraine, a... #nbu #NonCashpayments #UkrainiansAbroad
The National Bank of Ukraine keeps the key policy rate at 25%. Ukraine’s central bank kept borrowing costs unchanged at 25% even as a barrage of Russian missile attacks have further imperiled the economic outlook. “An extended full-scale war by Russia and escala... #KeyPolicyRate #nbu #UkraineEconomy
Ukraine’s international reserves exceed the pre-war level. As of December 1, Ukraine’s international reserves amounted to $27.95B and exceeded their level at the beginning of the war, which was $27.4B. In November, reserves increased by 10.7% due to an ... #nbu #NBUreserves2022 #Ukraineinternationalreserves
In October, Ukraine’s payment balance was consolidated with a surplus of $47M. The surplus of Ukraine’s consolidated balance of payments for October 2022 is $47M, according to data from the National Bank. At the same time, the October deficit for the payment account in October i... #nbu #UkrainePaymentBalance
In the third quarter, the banking sector of Ukraine showed a profit of UAH12B. This profit compensated for the losses of the year’s first half, so the financial result for nine months is a net positive UAH 7.4B. The reason for the NBU’s profitability was high operational e... #nbu #UkraineBankingSector #UkraineBanksProfits
The Ministry of Finance elevated rates and raised UAH 21B from military bonds. As the ministry reported, UAH 3.25B was raised from the placement of 6-month military bonds at 14%. UAH 255M was received from the placement of 1-year bonds, with the rate increased from 14% to 16% pe... #nbu #UkraineBond #Ukrainemilitarybonds
From November 14 to 18, the NBU sold $182.18M and bought $16.1M on the interbank foreign exchange market. According to currency intervention data, the National Bank sold $182.18M on the interbank market during the week, which is just over half of what was purchased last week, when the volume of sales from... #CurrencySale #foreignexchangemarket #nbu
Privatbank and Oschadbank are Ukraine’s most profitable banks in 2022. For the 10 full months of the year, Ukraine’s solvent banks generated UAH 7.37B in profit after taxes. State-owned PrivatBank became the most profitable, earning UAH 13.828B, according to data from t... #nbu #OschadbankProfits #PrivatBankProfits #UkrainianBanks
The main financing source for the state budget remains printing the hryvnia. According to the Ministry of Finance, since the beginning of the war, the National Bank has bought UAH 340B ($10.84B) worth of government military bonds. The regulator secured this amount by issuing h... #nbu #NBUprintingMoney #UkraineStateBudget
Loans for Ukrainians have become more expensive, but the yield on deposits has not changed. In October, the average interest rates on new bank loans in hryvnia amounted to 37.8% per annum. Interest rates increased by 1.6% compared to the previous month, reported the NBU. Interest rates on ne... #CreditPortfolio #LoansForUkrainians #nbu #UkraineDeposits
Ukraine increased its reserves by $1.3B. In October, Ukraine’s international reserves increased by $1.315B (5.5%). As of November 1, reserve funds totaled $25.2B, the NBU said. Since the beginning of the year, reserves have decreased b... #nbu #NBUInternationalReserves
Ukrainian banks’ 2023 profits are only 14% of last year’s. For the first nine months of the year, solvent banks earned UAH 7.4B in net profit, compared to UAH 51.4B for the corresponding period in 2022. The sector’s return on capital was 4.3% compared to 32.1... #nbu #UkraineBanksProfits #UkrainianBanks
The National Bank is assisting Ukrainian exporters in entering new markets. The National Bank created the conditions for Ukrainian exporters to participate in tenders for the supply of goods to non-residents. Since November 5, banks have been allowed to provide tender guarant... #nbu #ukrainianbusiness #UkrainianExport
The NBU has spent more than $20B to support the hryvnia. In October, the National Bank of Ukraine reduced the market sale of currency to $2.08B, against $2.79B in September. At the same time, the volume of purchases remained relatively insignificant –... #CurrencySale #Hryvnia #nbu
The NBU will continue to pursue a tight monetary policy. To preserve macro-financial stability, the National Bank will conduct a relatively tight monetary policy for the foreseeable future. This position is supported by the members of the Monetary Policy Co... #nbu #UkraineMonetaryPolicy
Ukraine has developed an alternative economic scenario in the event of the war’s continuation through the middle of 2024. If the war drags on until mid-2024, the growth of the Ukrainian economy will be only 1.9% in 2023, and 2.5% in 2024, and international reserves will fall to the critical $12.6B level in 2024, the NBU... #nbu #UkraineEconomicForecast #WarinUkraine
A gap between the financial contributions of Ukraine’s allies and its financial commitments complicates the state budget deficit. The first quarter of 2023 is currently the most difficult challenge for Ukraine as far as covering the budget deficit due to the big difference between partners’ commitments to financial support and t... #InflationinUkraine #nbu #SerhiyMarchenko #UkraineBudgetDeficit
The war will restrain the recovery of lending in Ukraine. In the third quarter, banks continued to report a slowdown in lending because of the war, the National Bank of Ukraine said. It is noted that the banks participating in a relevant survey noted a sligh... #LendingInUkraine #LoanPortfolio #nbu
The NBU leaves Its key policy rate unchanged at 25%. The board of the national bank has decided to keep the key policy rate at 25% per annum. Exchange rate stability, supported by this rate and additional measures by the NBU, will continue to contribute... #InflationinUkraine #KeyPolicyRate #nbu
The NBU will spend another UAH 15B on military bonds. On October 18, the portfolio of domestic bonds owned by the National Bank of Ukraine increased by another UAH 15B, NBU data shows. As of October 17, the NBU owned government bonds with a total value o... #nbu #Ukrainemilitarybonds
The new head of the National Bank has announced Ukraine’s need for $38B next year. The newly appointed head of the National Bank, Andriy Pishnyi, outlined his office’s priorities. Among them are macroeconomic stability, the effectiveness of macroeconomic policy, negotiations with in... #AndriyPishnyi #nbu #UkraineStateBudget
Due to the attack, Ukraine’s banking system went into remote mode. The National Bank asked banks to ensure the operation of their services in remote mode and to transfer their branches’ operations to a secure format. As noted by the NBU, the banking system of Ukraine... #nbu #UkraineBankingSystem
The IMF has approved $1.3B in additional assistance for Ukraine. The Board of Executive Directors of the IMF approved an additional $1.3B tranche to Ukraine on October 7, the NBU reported. These funds will come within the extended Rapid Financing Instrument (RFI), ... #financialaidforUkraine #imf #IMFaid #nbu
