Page 46 - UKRRptOct22

Household loan interest rates increased in August. The average interest rates on new consumer bank loans in August 2022 in hryvnia amounted to 23.1% per annum. Compared to July, rates increased by 0.4%, according to the National Bank of Ukraine. At the same time, rates on new loans in foreign currency fell from 6.7% to 3.3% per annum. Interest rates for hryvnia commercial loans increased from 17.8% to 20.2% per annum in August and foreign currency loans from 4.5% to 4.9%. Bank credit portfolios decreased by 0.7% to UAH 1.083T, including consumer credit portfolios decreasing by 1.4% to UAH 234B, and business portfolios by 0.5% to UAH 821B.
Ukrainians have borrowed 12 times less money since the war. Loan amounts provided by microfinance organizations fell to UAH 1.3B in the second quarter of the current year, compared to UAH 16.2B before the war. This is more than 12 times less than the average amount of microcredit issued in the same quarter last year, reported Opendatabot. More than 355,646 contracts were executed in the second quarter, two times less than the number of contracts per month in the first quarter of 2022 and 3.3 times less than the number of contracts per month in 2021. The average loan amount in the second quarter also decreased by 28%. At the same time, microloan debt decreased by 18% from the beginning of the year, from UAH 13B at the beginning of the year to UAH 10.7B at the beginning of July.
46 UKRAINE Country Report October 2022 www.intellinews.com