The amount of deposits in banks increased

Expectations could not be made about the possible outflow of deposits due to the coronavirus epidemic

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The amount of Ukrainian deposits in banks has increased by 28.7 billion, or 5.7% since the introduction of quarantine. As of June 1, 2020, the total amount of money on deposits and current accounts of individuals amounted to 529.8 billion UAH. Such data Resonant Personal Deposit Guarantee Fund.

According to the fund, expectations regarding a possible outflow of deposits in relation to the coronovirus epidemic did not occur. There was no significant flow of money from deposits during this period, and the amount of deposits has also increased since the beginning of the year.

It has also been reported that since the beginning of national quarantine, there has been a slight fluctuation in the amount of deposits in both national and foreign currencies. In particular, there was a moderate outflow of funds in Hryvnia in March, and a decrease in the amount of deposits in foreign currency in April. Furthermore, since the beginning of the weakening of quarantine measures, the population’s need for cash hryvnia funds has increased – their outflow was recorded in the second decade of May. However, these events were short-lived and did not affect the overall positive trend. The volume of deposits recovered quickly and from the beginning of the year it increased to 55.4 billion UAH, or 11.7%.

Positive dynamics have continued since last year. To date, the growth in deposits for the first five months of this year has exceeded the growth rate for the entire 2019. The figure then was $ 36.1 billion, or 8.2%.

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The participants of the Deposit Guarantee Fund are 74 banks, i.e. all banks in Ukraine, except the Sberbank JSC.

Earlier, the court allowed the arrest of former MP Constantin Zhevago, who is suspected of embezzling bank finance and loan assets.

Read: Guarantee Fund will solve the problem of payment of deposits in excess of 200 thousand UAH



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