Page 49 - Ukraine OUTLOOK 2024

Retail deposits remain the main source of funding for the mortgage business and have been growing for the fourth quarter in a row in 2023. The still attractive deposit rates contributed to the further growth of time deposits of the population in hryvnia, although at an increasingly lower rate after the NBU began to ease its monetary policy thanks to falling inflation.
“Despite the reduction in the discount rate, higher rates on three-month deposit certificates of the National Bank and increased reserve requirements for current funds continued to motivate banks to attract time deposits from the
49 UKRAINE OUTLOOK 2024 www.intellinews.com