How have Ukrainian bank deposit portfolios and investment returns changed?

According to the year’s first half results, as of June the financial institutions with the two largest deposit portfolios were Privatbank (₴490.83B) and Oschadbank (₴201.4B). Also among the leaders are Universal Bank (₴92.13B) and PUMB (₴57.25B), NBU data shows.

On the other hand, the situation is the opposite for small banks. Many faced an outflow of money in the first half of the year. Small banks are trying to maintain relatively high deposit rates to attract depositors and are actively conducting promotions featuring increased interest rates.

According to the profile portal, although the NBU discount rate remained unchanged in July approximately half of Ukraine’s banks actively reduced interest rates on household deposits. Competition is forcing banks to equalize interest rates.

In August, for the third month in a row, banks’ most popular interest rate was 15% per annum. NBU data for July indicates that the average bank interest rate on new hryvnia household deposits amounted to 10.7% per annum (-0.1 percentage points compared to June).