Hryvnia deposits grew by 17.5% in 2019 – NBU

"Hryvnia deposits of citizens in banks increased by 17.5% last year, foreign currency deposits - by 15.4%. Hryvnia deposits of businesses in banks increased by 19.5% over a year, foreign currency deposits - by 48.4%," reads the NBU Annual Report for 2019.

In 2019, hryvnia consumer loans rose by 31% compared to 2018, loans for the purchase of real estate - by 13.4%. The growth was due to the increase in citizens' incomes and the high profitability of such services for banks. However, the volume of net hryvnia business loans decreased by 6.2%.

"The easing of monetary policy in 2019 contributed to cheaper loans. Rates on hryvnia loans to businesses began to decline at the year-end. In Q4 - by 2.4 p.p. to 15.7% per annum. However, the cost of loans to individuals remained high,” reads the document.

As Ukrinform reported, the outflow of time hryvnia deposits and foreign currency funds at the end of April stopped. During the last week of April, hryvnia funds of the population as a whole and term hryvnia deposits grew by 0.3%, foreign currency funds rose by 0.2% in the U.S. dollar equivalent.

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