Ukrainian banks began to “escape” deposits
During January in the Ukrainian banks have fixed outflow of depositsin UAH – minus 2.3 percent, in dollars or minus 1.8 percent.
“A significant factor in the reduction in balances on deposits in January was the base effect – a significant growth of deposits in December was due to significant budget expenditures at the end of the year, in particular, advance payment of pensions, and also record VAT refund in cash”, – explained in the national Bank.
In January money supply decreased by 3.3% to $ 1 trillion to 66.1 billion. This was primarily due to the reduction in cash in circulation outside banks (by 6.2%).
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The NBU States that in January individuals went to banks for loans.
“The dynamics of credit activity in January continued to define the still high level of debt, especially among borrowers in the corporate sector. The limiting factor was made by a seasonal decline in business activity. As a result, corporate loan portfolio of banks in January decreased by 1.6%, including in national currency – by 0.8%. However, there was a growth of balances on Bank loans to households in national currency – by 1.6%. In General, the end of the month, balances of loans in national currency decreased by 0.4%, in foreign currency (in dollar equivalent) – by 2.0%,” the report of the NBU.
At the same time in January, after rising slightly in December, resumed decline in the value of loans to corporate sector in national currency. In the past 12 months, the cost of hryvnia loans to businesses decreased by 4.5% to 14.9% per annum in January 2017.
Earlier , the NBU expressed hope for the rapid recovery of the credit in 2017.