UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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Actively growing credit activity recorded in October

Information on new loans granted in October, as it was published by the National Bank of Ukraine, proves there is a renewal of both corporate and retail lending in Ukraine.

In October, total new loans granted to business entities and private lenders increased to UAH 121.1 bn. against UAH 112.3 bn. in September and UAH 105.8 bn. in August, UAH 114.6 bn. in July and UAH 110.3 bn. in June. It’s the highest value that has been reached since the year beginning. For your information: this year started with a drastically decreasing crediting activity – UAH 105.0 bn. in February and UAH 93.7 bn. in January. The renewal was observed in March: UAH 113.5 bn. new loans were issued, but in April the decrease of credit activity was recorded – to UAH 109.7 bn. However, a positive crediting dynamics was marked in May – UAH 114.2 bn. Unfortunately, from June to September some stagnation was recorded – with adjustment to a seasonal drop in summer months. It was due to a sharp appreciation of credit resources which started in late May.

The amount of new loans issued in October was significantly higher than the average amount of credits granted in previous 12 months (UAH 110.1 bn.).

In October, there was an increase of total cumulative credits for recent 12 months to UAH 1339.2 bn. against the similar index in September (UAH 1321.6 bn.) and the same index in August (UAH 1332.3 bn.).

October business crediting increased to UAH 109.0 bn. against UAH 100.7 bn. of new credits issued in September and UAH 93.3 bn. in August. October figures were ahead of the July index — UAH 102.5 bn. New credits granted to business entities in October were significantly higher than the average index of UAH 99.5 bn. for recent 12 months. UAH 1,210.0 bn. new credits were issued in total to business entities for 12 months.

In October, private lending increased to UAH 10.0 bn. from UAH 8.9 bn. in September; however, it did not reach the August value of UAH 10.4 bn. All these records are higher than the average value for previous 12 months (UAH 8.2 bn.). It’s explained by the fact that a sharp decrease of private lending (UAH 6.6 bn. in January and UAH 6.3 bn. in February) was recorded at the year beginning.

At the same time, in October new consumer credits (mortgage excluded) went up to UAH 8.2 bn. against UAH 7.3 bn. in September, though they did not reach UAH 9.0 bn. recorded in August. Consumer loans in the banks’ credit portfolios totaled UAH 124.6 bn. as of 01 November. It insignificantly exceeds the semi-annual index of UAH 123.4 bn.

New mortgage credits issued in October went up to UAH 460 bn. against UAH 374 bn. in September, UAH 338 bn. in August and UAH 295 bn. in July. Such a growth allowed outstripping the average volume of new mortgage credits granted for recent 12 months – UAH 362 bn. As of 01 November, total mortgage loans in banks’ credit portfolios reached UAH 61.3 bn., which is about 8% below the index recorded six months ago (UAH 66 bn.) and 18.4% lower than the mortgage portfolio index recorded a year ago (UAH 75.03 bn.). It proves the fact that new mortgage loan granting rates are three times below the rates of repayment of previously granted mortgage loans.

Last year the private credit portfolio of Ukrainian banks decreased by 8.2%, to UAH 190.7 bn., while the credit portfolio’s hryvnia share went up by 19.8%, to UAH 99.61 bn., and the portfolio’s foreign currency share decreased by 26.97%, to UAH 90.4 bn.

Data source: NBU

 
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