Page 47 - UKRRptDec21

first nine months of the year, banks issued more than 7500 mortgage loans totaling almost UAH 6.1 bln ($233 mln). Compared to the same period last year, new mortgage lending increased 2.7 times in monetary terms. In September, the weighted average effective mortgage rate was 15.4% in the primary market and 13.6% in the secondary market, announced the National Bank of Ukraine.
Ukrainian banks have made twice as many mortgage loans for almost three times the amount of money during the first nine months of this year, the central bank reports in a year-over-year analysis. Through September, banks have issued 7,500 mortgage loans for a total of $230mn, reports the National Bank of Ukraine. The average loan is for $33,000 and the average interest rate is 13.5%. Because developers often finance sales of new apartments, most mortgages are going to the ‘secondary’ market, existing housing stock.
As of 1 December 2021, the NBU will increase the limits on banks' open long and short FX positions from 10% to 15% of their regulatory capital. The NBU projects that the higher limits will expand by about $400mn the banks' ability to conduct interbank transactions within their FX positions. This will contribute to the banks' greater role in smoothing out excessive exchange rate fluctuations on the FX market and enhancing liquidity and market depth in general, reported NBU.
In Ukraine, the level of non-cash payments increased to 9 out of 10 transactions – announced the NBU. “The share of non-cash payments in Ukraine has been constantly growing over the last two years. At present, the volume of non-cash payments is 61%, and the number of transactions is 90%. That is, 9 out of 10 transactions today are non-cash," said Deputy Director of the Payment Systems, Vasilyeva.
8.1.4 Bank news
Monobank has increased its profits six-fold to $100mn. "We are actively growing our customer base," said Oleg Gorokhovsky, the co-founder of Monobank. The number of active mono cards as of September 2021 has grown to 4.3mn, which is twice as many as in 2020. Mono's retail loan portfolio grew 1.5 times over the year to ₴23.3bn ($886mn), making it the second-largest bank in the market in terms of retail loans.
Russia’s Sberbank received permission to change its name.
The subsidiary of the Russian Sberbank was allowed to change its name in Ukraine until August 2022. It is noted that the reason for this decision was the need for the subsidiary of Sberbank to take several measures to change the name, the timing of which depends on third parties. Previously, Russia's Sberbank was actively searching for a buyer for its Ukrainian subsidiary but claimed legal difficulties.
Ukrgasbank posts record $102mn profit in first 10 months of 2021. The number is four times higher than the bank’s earnings in the same period of last year, state-owned Ukrgasbank announced on November 15. This is the bank’s most profitable year on record. Banks around the world have seen windfall
47 UKRAINE Country Report December 2021 www.intellinews.com