Ukrainian banks continue to compete for clients’ funds, raising deposit rates for both individuals and businesses, the NBU Banking Sector Survey notes.
On average, the value of 12-month deposits of individuals increased by 1.2% per quarter, up to 13.9% per annum, and three-month deposits are up to 12.4% per annum. The rates for commercial deposits increased to 13.2% per annum.
At the same time, Ukrainians began to withdraw the currency purchased for deposit from banks. Fund accumulation was most actively observed in January-February, then the trend slowed, and in April, it turned in the opposite direction.
At the same time, the cost of loans has almost stabilized. During the quarter, the rates for consumer loans to individuals fluctuated around 30% per annum, and for business loans, approximately 20% per annum. The rates were slightly higher for loans to large enterprises.