Deposit policy of Ukrainian banks

Анотація

The article examines the peculiarities of attracting deposits by Ukrainian banks in modern conditions, taking into account the effects of external factors. The dynamics of the volumes of deposits of individuals and legal entities in 2016–2023, changes in deposit rates, the structure of deposits (the specific weight of contributions in foreign currency, the share of time deposits), the rating of Ukrainian banks by the size of their deposit portfolio were studied. The deposit policy of banks is characterized by the predominance of funds on demand in the structure of the deposit portfolio, with a decrease in the share of time deposits. The tendency to increase the deposit portfolio of banks is due to trust in the banking sector, as well as in the Individual Deposit Guarantee Fund. Until July 2022, all banks offered low deposit rates (4.3-7.4% per annum in hryvnias), however, over the past year and a half, there has been a tendency for rates on hryvnia time deposits to increase, and most banks' rates cover expected inflation. As a result, the propensity to save in the national currency increased and a tendency to increase the volume and share of time deposits of individuals was formed. In April 2023, the NBU introduced a three-month deposit certificate at a fixed rate at the level of the discount rate, which gave an impetus to the growth of deposit rates and the competition of banks for time deposits and deposits of private clients. Until 2018, Ukraine could be classified as a group of countries with high dollarization of deposits, which is associated with periodic currency and financial crises and long-term negative expectations of economic entities. However, in recent years, dollarization has decreased, in 2022 it again had an upward trend. During currency and financial crises, its indicators increase significantly, which is connected with the devaluation of the hryvnia and the reorientation of economic entities to more stable currencies. Under the difficult conditions of the current economic situation in Ukraine, it is suggested that banks develop new deposit products with the introduction and expansion of innovations in customer service. In order to maintain positive trends, Ukrainian banks must implement a balanced deposit policy aimed at stabilizing the deposit portfolio, including through the introduction of new deposit products.

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