The average rate of new hryvnia deposits for the corporate sector decreased by 0.9 pp (percentage points) for the second month in a row to 12.5% in September, while for households it remained at around 12.25% per annum after the first decline of 0.5 pp in August for 14 months.
According to the NBU on its website, the yield on foreign currency deposits for individuals also remained unchanged in September at around 1.15% p.a., while the yield on corporate deposits decreased by an average of 0.15 percentage points to 0.58% p.a.
Interbank lending rates, as indicated by the National Bank, fell by 1 percentage point to 17.2% per annum in September, including overnight rates by 0.3 percentage points to 16.4% per annum.
As for the volume of deposits, the gap between corporate and retail deposits continued to narrow in September: while corporate deposits decreased by UAH 12.1 billion, or 1.1%, to UAH 1 trillion 116.3 billion, retail deposits increased by UAH 22.9 billion, or 2.4%, to UAH 999.4 billion.
Households increased their deposits both in hryvnia by 2.5% to UAH 663.7 billion and in foreign currency by 2% to the equivalent of UAH 335.7 billion, while in September, corporate deposits in foreign currency decreased by 5.4% to UAH 340.2 billion, while in hryvnia they increased by 0.8% to UAH 776.1 billion.
The total loan portfolio, which returned to slow growth in July, added another UAH 4.9 billion in September to reach UAH 975.0 billion.
The growth was driven by hryvnia loans to the corporate sector, which increased by 1.9% to UAH 509.6 billion, while foreign currency loans decreased by 1.4% to the equivalent of UAH 230.8 billion.
In September, consumer loans decreased both in national currency by 0.3% to UAH 202.4 billion and in foreign currency by 0.4% to the equivalent of UAH 12.5 billion.
As reported, on September 15, the NBU cut the discount rate from 22% to 20% per annum, while reducing the rate on three-month deposit certificates from 22% to 20%, while the rate on overnight deposit certificates decreased from 18% to 16%.
Inflation in Ukraine in annual terms slowed to 7.1% in September from 8.6% in August and 11.3% in July.
National bank of Ukraine’s official rates as of 01/11/22
Source: National Bank of Ukraine
National bank of Ukraine’s official rates as of 20/10/22
Source: National Bank of Ukraine
National bank of Ukraine’s official rates as of 05/09/22
Source: National Bank of Ukraine
Central bank official rates of banking metals as of September 05
One troy ounce=31.10 grams
National bank of Ukraine’s official rates as of 26/08/22
Source: National Bank of Ukraine
