Loans, according to the NBU, have become even more expensive for Ukrainians. In February, rates on new household loans increased by 0.3 percentage points. and make up 36% per annum.
Even before the war, many Ukrainians counted on loans as a significant help in order to improve their financial situation. People also take out loans to buy an apartment, a car or some other expensive thing. Therefore, the lower the rate of the National Bank on loans, the more affordable they are for the population. Meanwhile, in February 2023, the average interest rates on new bank loans for the population in the national currency increased by 0.3 percentage points (p.p.) and amounted to 36% per annum. This is evidenced by the operational data of the National Bank of Ukraine.
At the same time, the rates on new loans for the population in foreign currency decreased from 7.2% to 5.1% per annum. But the rates on hryvnia loans for enterprises in February increased from 19.5% to 20.5% per annum, on foreign currency loans fell from 5.9% to 5.5%.
In February 2023, the average interest rates on new bank loans for the population in the national currency increased by 0.3 percentage points
Photo: NBU
The loan portfolio of banks in February decreased by 1.3% to UAH 987 billion, including for the population, the reduction was 1.5% to UAH 207 billion. For enterprises – by 1.2% to UAH 757 billion.
Not only cards. What loans are available to individuals in 2023
According to the NBU, in 2022, banks issued 2009 mortgage loans totaling UAH 1.96 billion. Compared to 2021, new mortgage lending decreased by 5.3 times in terms of the number of contracts and 4.3 times in monetary terms.
But if in the first months of the war, banks generally almost massively stopped issuing loans to individuals due to extremely low demand, then from the second half of 2022, the loan market for the population began to recover. As the head of the board of Unex Bank, Ivan Svitek, told Focus in February, lending to the population is already going quite actively today.
“Banks and non-banking institutions are primarily focused on small cash loans and card limits, since these products can exist in conditions of high cost of resources. As for more complex products, such as mortgages, car loans, only very cautious steps will be taken. A revival is likely leasing in terms of car financing,” he said.
In addition, in the fall of 2022, the government launched the єOselya preferential mortgage lending program. Experts expect that the majority of new loans in 2023 will be issued under this program.
Recall that earlier, the head of Oschadbank, Serhiy Naumov, in an interview with Focus, said whether there is trust in banks in Ukraine, how reliable the banking system of Ukraine is, and how the volume of non-performing loans has changed due to the Russian invasion.
Meanwhile, the Cabinet of Ministers is considering introducing easier loan repayment conditions for some IDPs. We are talking about mandatory debt restructuring.
