Banks' Credits To Economy Down 0.7% To UAH 1,083.4 Billion In August

According to the latest data, in August, total credits commercial banks granted to the corporate sector and private persons decreased by 0.7% to UAH 1,083.408 billion.

The National Bank of Ukraine announced this in a statement, Ukrainian News Agency reports.

In the year to date, banks' credits to the economy have increased by 3.8% from UAH 1,044.049 billion.

In August, hryvnia credits of banks to legal entities decreased by 0.2% to UAH 544.466 billion.

Foreign currency credits of banks to businesses decreased by 1% to UAH 276.591 billion.

In August, credits of banks to the population decreased by 1.4% to UAH 233.928 billion.

Interest rates on hryvnia-denominated loans for businesses in August increased by 2.4 p.p. to 20.2%, and for the population, they fell by 0.4 p.p. to 23.1%.

The interest rates for businesses on foreign currency-denominated loans made 4.9%.

As Ukrainian News Agency earlier reported, in 2021, total credits commercial banks granted to the corporate sector and private persons increased by 10% from UAH 948.386 billion to UAH 1,043.694 billion.

In 2020, the volume of loans to the economy fell by 2.3% from UAH 971.871 billion.