Banking sector loans, deposits slow in June

Ukrainian banking sector deposits added 1.2% mom in June, according to the National Bank of Ukraine. In yoy terms, deposits decelerated from 11.3% yoy in May to 9.4% yoy in June.  The system’s aggregate loan portfolio grew 0.4% mom in June solely on corporate facilities. Retail loans continue to shrink: 1.2% mom and 9.1% yoy. 

Banking sector loans and deposits, USD bln
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                            June 2012    mom    yoy
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Total loans                 99.3   0.4%   3.5%
   corporate loans        76.2   0.9%   8.1%
   retail loans              23.2  -1.2%  -9.1%
Total deposits             63.3   1.2%   9.4%
   corporate deposits   20.9   0.3%   1.9%
   retail deposits         42.4   1.6%  13.5%
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Source: NBU

Olena Zuikova:  Weak YTD banking data was expected due to liquidity problems in the sector and the uncertain macro environment. We do not expect a turnaround in 2H12 and keep our full-year 2012 projections of 5% growth for the aggregate loan portfolio and 11% for deposits.