Banks in Ukraine can double deposit rates for the public.

This will not significantly impact banks, particularly the total cost of funding, according to deputy head of the NBU Kateryna Rozhkova.

She notes that in December, hryvnia liabilities in the banking system cost an average of 6% annually. At the same time, household deposits in hryvnia currently make up 15% of the entire resource base in the national currency.

For example, in February, according to the NBU, the deposit portfolio grew by 1.5%, UAH 14B, and amounted to UAH 937.1B. The hryvnia portfolio increased by UAH 8B and amounted to UAH 588.6B. The foreign currency deposit portfolio increased by $167M to $9.5B.

The average rate for deposits in the national currency increased by 0.2% last month to 12.4% per annum. Foreign currency deposits have not changed and stayed at 0.6% per annum.