Banking loans, deposits remain weak in April



16 травня 2012 года
Конкорд Капитал

Ukraine’s banking sector loans increased 0.5% mom in April, with annual growth decelerating to 5.3% from 6.4% in March, the National Bank of Ukraine reported yesterday. The aggregate loan portfolio increased 0.8% mom in the corporate sector (+9.9% yoy) but declined 0.6% mom in retail (-7.1% yoy). Deposits decreased 0.8% mom (+9.8% yoy).

Key banking sector statistics, USD bln
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USD bln, stock Apr.2012 mom yoy
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Total loans 99.4 0.5% 5.3%
corporate loans 75.8 0.8% 9.9%
retail loans 23.7 -0.6% -7.1%
Total deposits 62.1 -0.8% 9.8%
corporate deposits 21.0 -3.0% 4.9%
retail deposits 41.1 0.3% 12.5%
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Source: NBU

Olena Zuikova: Lending remains extremely weak and we do not have any reason to upgrade our conservative 2012 growth projection for sector loans of just 5% yoy. The retail segment is especially disappointing as households continue to deleverage, which we attribute to high interest rates and growing uncertainty regarding future income. An NBU representative recently expressed concern over extremely weak lending and indicated the central bank might take more steps to loosen monetary policy. Yet, we think the key constraints for revival of lending are on the demand side due to a lack of creditworthy borrowers.

Источник: Конкорд Капитал

Аналитик: Алёна Зуйкова


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