In February, hryvnia bonds were 50% more profitable than bank deposits.

According to the Ministry of Finance, last month the weighted average yield of hryvnia government bonds amounted to 17.32%, while the Ukrainian rate index for consumer deposits was only 11.34%. The annual yield of hryvnia government bonds in February exceeded the average rate of bank deposits 1.53 times.

At the same time, the banking system’s total deposit portfolio, according to NBU data, grew by ₴16.9B (1.6%) in February and amounted to ₴1.07T. Hryvnia deposits increased by ₴15B (2.2%). Overall, the banking system’s deposit portfolio in the national currency is ₴706.4B. The yield on hryvnia deposits decreased by 0.1 percentage point, falling to 13.6% per annum.

The foreign currency deposit portfolio decreased by $35M (0.4%), totaling $9.4B. The average deposit rate for the dollar has remained unchanged since October of last year – 1.1% per annum.