Economy 2024-04-15T06:29:52+03:00
Ukrainian news
Banking Sector Significantly Accelerated Growth Of Lending In Q2 - NBU

Banking Sector Significantly Accelerated Growth Of Lending In Q2 - NBU

NBU, bank, banking sector, loans, lending

The banking sector significantly accelerated lending growth in the second quarter, in particular in the corporate, mortgage and consumer segments.

This is stated in the next Banking Sector Review published by the National Bank of Ukraine (NBU), Ukrainian News Agency reports.

It is noted that the positive dynamics of attracting customer funds has remained.

The sector's second-quarter profit more than doubled on an annualized basis.

The annual growth rate of net interest income was the fastest in a decade.

Net fee and commission income also increased significantly.

At the same time, provisions for loans have decreased by half on an annualized basis.

The first results of assessing the quality of assets indicate that banks maintain an acceptable quality of the loan portfolio and proper assessment of credit risks.

The growth of net hryvnia loan portfolios in the corporate segment accelerated significantly - to 14.9% in the second quarter against 5.3% in the previous quarter.

On an annualized basis, growth reached an 8-year high of nearly 30%.

The growth rate of consumer loans is returning to pre-crisis levels.

The volume of net loans in hryvnia to individuals increased by 8.7% in the quarter and by 23.8% in annual terms.

Mortgage loans maintain their outstripping dynamics compared to consumer lending - + 16.0% quarter over quarter and + 41.7% year over year.

The share of non-performing loans for the quarter decreased by 2.8 to 37.2% due to accelerated lending and write-off of non-performing assets.

Demand funds are growing faster than urgent funds, and the level of dollarization of deposits has decreased.

The banking sector's profit in the second quarter amounted to UAH 19.1 billion and was 2.5 times more than in the corresponding period of 2020.

The return on equity rose to 29% from 23% last year.

As Ukrainian News Agency earlier reported, in January-June, the volume of cash receipts to banks' cash offices increased 1.9 times to UAH 1.2 trillion.

In turn, the volume of cash withdrawals from banks' cash desks amounted to UAH 1,177.0 billion, which is 1.5 times more than in the first half of 2020.

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