This is reported by RBK-Ukraine referencing the Banking Sector Review from the NBU (Q3 2024). This information is also provided by Kontrakty.UA.
According to the review, in Q3, the NBU's discount rate remained at 13.0% per annum, the same as the rate for "overnight" deposit certificates. The rate for three-month NBU deposit certificates decreased to 15.5% per annum. Additionally, in September, the NBU raised the requirements for mandatory reserve funds in current accounts.
Deposit Rates
Overall, the decline in rates for household funds has slightly slowed. For new hryvnia agreements (including demand deposits), the rate decreased by 0.6 percentage points to 9.6% per annum; for annual deposits by individuals based on the UIRD, it fell by 0.3 percentage points to 12.9% per annum. The spread between 12-month and 3-month deposits has remained minimal for over a year.
According to the NBU, rates for attracted business funds slightly decreased during July-August and returned to 8.5% per annum in September.
Loan Rates
Market rates for hryvnia loans have stabilized: around 15% per annum for businesses and slightly below 28% per annum for individuals. Rates for new loans to large enterprises remained lower than those for SMEs.
Rate Forecasts
It is worth noting that in Q4 2024, Ukrainian banks expect a decrease in deposit costs for both households and corporations. However, banks' estimates are more cautious than in the first two quarters of this year.
In Q4 2024, Ukrainian banks anticipate an increase in demand for all types of retail loans. Banks plan to ease credit standards for consumer loans.