Rates on hryvnia deposits of individuals in Oct grow by only 0.1 pp on average – NBU

KYIV. Nov 10 (Interfax-Ukraine) – The average rate of new hryvnia deposits for households, issued in October, amounted to 9.2% per annum, which is only 0.1 percentage point (p.p.) higher than in September, when rates grew immediately by 1 p.p. p., and by 3.5 p.p. compared to the level of May, when the historical minimum of the rate was reached.

As stated in the information of the National Bank of Ukraine (NBU) on its website, in general, in January-October 2022, the rate on deposits in the national currency rose by 2.1 percentage points.

At the same time, the rate on hryvnia loans to households increased by 1.6 percentage points in September, to 37.8% per annum, and in January-October 2022 by 4.1 p.p.

The rate on foreign currency deposits, which reached a historic low of 0.4% per annum in April, after rising in May-July and stability in September, decreased by 0.1 percentage points in October, to 0.7%, which may be associated with deposits for the purchase of foreign currency, the rate on which, as a rule, is close to zero.

As for the corporate sector, the rate on new hryvnia deposits fell by 0.1 percentage points in September, to 9.2%, while for foreign exchange it increased by 0.2 percentage points, to 1.4% per annum.

The average rate of hryvnia loans issued to the corporate sector in September also decreased by 0.1 percentage points, to 19.7%, and increased by 0.5 percentage points for foreign currency loans, to 6.0%.

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