Banks' cash turnover increased in 2023, the NBU reported on Friday, UNN reports.
Details
According to the NBU, cash inflows to banks' cash desks increased by 13.6% last year compared to 2022 and amounted to UAH 2,494.3 billion. Cash withdrawals from banks' cash desks increased by 11.5% last year and reached UAH 2,543.7 billion.
"This is due to last year's economic recovery, which was facilitated, in particular, by the establishment of new supply routes and steady domestic demand for goods and services from the population," the NBU explained.
As noted, as before, banks issued the largest amounts of cash from their cash desks for (% of total expenditures):
▪️ of customer transactions using payment cards - 84.0% (as cash remains an affordable and fast payment instrument for retail transactions amidst the uncertainty associated with martial law);
▪️ reinforcement of postal operators - 4.2%;
▪️ purchase of foreign currency from customers - 3.9%.
The largest sources of cash inflows to banks' cash desks have traditionally been (% of total cash inflows):
▪️ sales revenue - 33.9%;
▪️ customer transactions using payment cards - 29.3%;
▪️ revenue from all types of services - 15.7%.
At present, the volume of revenues to banks' cash desks from trade revenue and revenue from all types of services has not only reached the level of "pre-war" 2021, but has slightly exceeded it