Bankers are predicting an increase in the yield of hryvnia deposits in Ukraine.

In March, the rates on stock hryvnia deposits, depending on the term of placement of funds, may reach 17% per annum, predicts the top manager of Globus Bank, Dmytro Zamotaev.

He specified that until the end of March, the NBU discount rate and the rates for three-month deposits will most likely remain unchanged: 15% and 19%, respectively. This means that two parallel trends will be observed in the hryvnia deposit sector. The first is the stagnation of rates. Since the end of December 2023, most banks have already reviewed the profitability of hryvnia deposits, and therefore, their conditions will remain the same.

“Thus, the average return for three to six month deposits will be 13.5% per annum, and from nine months to one year, 12.5-13%,” the expert says.

The second trend is the strengthening of deposit competition between banks. According to the banker, new deposit products or attractive short-term deposit promotions with increased interest rates (15.5-17% per annum) may appear on the market. The net profit level will remain at 5-6%.