At the beginning of April, rates on hryvnia deposits will remain stable. However, from the second half of the month, we should expect a slight drop in profitability, said Dmytro Zamotayev, director of the retail business department of Globus Bank.
He predicts that in April the growth in hryvnia deposits will reach 3-5% compared to March, and since the beginning of the year, it will reach 12-14%. At the same time, the rate on three-month deposit certificates, as the basis for forming rates on hryvnia deposits, was reduced from 19% to 17.5%. Therefore, commercial banks adjust their yields on their main deposit:
- deposits from three to six months, 12.5% (maximum up to 16% per annum)
- from six months to a year, 12% (maximum up to 15% per annum)
According to Zamotayev, the net profit from hryvnia deposits, as in March, will average 5-6%; the net income from hryvnia deposits is almost 200% higher than the income from deposits in dollars and euros.