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Photo: Dmitry Sologub (NBU press service)
The National Bank predicts a further decline in deposit rates at banks. At the end of the year, they can drop 1 percentage point.
The deputy director of the NBU, Dmitry Sologub, said this in an interview with the Interfax-Ukraine agency.
“In deposits, perhaps there is a small reduction potential. They have not yet fully recovered the reduction of the discount rate to 6%,” he said.
According to him, small banks attract deposits at 11%, foreign banks at 5%.
“In different banks so far they pay differently. Oschadbank recently lowered the rates, it has almost 8%. If we take an annual deposit in hryvnia, then the rate differential range is between 5% and 11%. But in Overall, the system, I think, there’s potential for another 100 basis points, “he said.
Note that the director of the department of monetary policy and economic analysis of the National Bank of Ukraine, Volodymyr Lepushinsky, said that in the context of decreasing devaluation expectations and low inflation, banks still have scope to reduce hryvnia rates by term deposits.
Recall, according to the NBU, in August 2020, the average interest rates of banks on new deposits in hryvnia for the population amounted to 9.4% per annum, which is 0.3 percentage points. lower than in July (9.7%).
