Nominal incomes of the population in Ukraine are growing quite fast, and even real incomes, taking into account low inflation. This was announced by the director of the financial stability department of the NBU, Pervin Dadashova, during the presentation of the June 2024 financial stability report, Correspondent reports. HAS.
Nominal incomes of the population are growing quite fast, and even real incomes, taking into account low inflation, are growing correspondingly too fast. This means a lot of good and positive things for the banking sector. This improves consumer demand and, accordingly, improves demand for consumer credit. Given that incomes remain high and growing, particularly in the bank’s customer category, the penetration of lending into income is quite low;
According to him, this indicates that there is room for increasing banking operations and further lending.
In other words, the situation is favorable for banking business. In addition, the favorable situation for banks is due to the fact that these revenues are credited to the accounts. The high rate of growth of deposits and current accounts in relation to the income received by the population remains quite good. In other words, there are no problems that banks have discovered in terms of reducing interest in keeping their funds in the system, which makes financing stable. Therefore, we now determine the state of the industry, that is, the state of revenues, in such a way that it has a positive effect on the banking sector overall;
However, he noted that they will continue to monitor what uncertainty there is.
This uncertainty translates into fear of investing in long-term assets, fears of taking market mortgages, ie there are factors that limit lending. There are factors that hold back long-term deposits, ie the same uncertainty again. But now the situation is better than, for example, 6 months ago in terms of risks to the financial syste