NBU introduces new currency restrictions and announces bank stability assessment in 2024

Ukraine's banking system continues to work steadily in conditions of economic instability, maintaining a twofold capital reserve. According to the NBU as of 1 September, the average level of capital adequacy of banks is 16.2%, with a minimum of 8.5%. This allows the system to maintain lending despite the difficulties. Next year, the National Bank will assess the stability of banks to ensure further development.

In addition, the National Bank has introduced new currency restrictions. Since September 10, card transactions abroad are limited: for jewellery - up to UAH 100 thousand, for real estate - up to UAH 500 thousand per month. This decision should curb capital outflow from the country.

As for interest rates, Ukreximbank reduced rates on deposits in UAH and USD, but increased rates for 6-month deposits in USD. OTP Bank also reduced rates for hryvnia deposits.

Some banks are updating tariffs, Bank Globus will introduce a commission for cash withdrawal abroad for Mastercard World Elite cards from 11 October. Credit Dnipro Bank is also changing its tariffs.

Novapay has launched a new feature "Payment Distribution", which allows you to split bills between friends. The maximum amount for splitting is UAH 100 thousand, the number of participants - up to 20. Now Monobank users can see which payments will be debited in the next few days by simply swiping the main page of the application.

Raiffeisen Bank, for its part, will stop charging cashback for credit card expenses from 1 October.