Page 50 - UKRRptAug20
P. 50
8.1.2 Loans
Banks were still extending loans and retail lending continued May and June. Incomes are still rising and consumers are still taking out loans at a steady but not excessive pace.
Loans to individuals were up to UAH219,234mn ($7.8bn)in July, up from UAH214,252mn in January. Retail lending remains one of banks’ most profitable businesses.
Corporate lending saw a spike in May as the crisis hit and companies reached out to banks for funds. However, corporate borrowing has been falling steadily since March last year and by May the trend returned with corporate borrowing resuming its downward trend. Corporates had borrowed UAH849,960mn ($30.6bn) in July, on a par with the UAH847,259mn borrowed in January.
50 UKRAINE Country Report August 2020 www.intellinews.com
