In August 2016, banks reported a 0.3% increase in the stock of household term deposits in domestic currency, which reached UAH 120.96 billion, with FX deposits increasing by 0.4% to USD 6.76 billion.

Domestic currency deposits increased by UAH 9.58 billion (or by 8.6%) year-to-date, while foreign currency deposits (in dollar terms) remained virtually flat.

Household term deposits have been on the rise since the beginning of the year, which helped boost the banking system's liquidity and provided a solid foundation for the revival of lending. The deposit growth  has been driven by an increase in both  domestic and foreign currency term deposits  (in dollar terms),” said NBU Deputy Governor Kateryna Rozhkova. “We expect that public confidence in the banking system will be further enhanced  and deposits will continue to follow an upward trend”.

In August, following a seasonal pattern, household demand deposits in domestic currency  shrank by 4.8% to UAH 67.3 billion. Such deposit outflows can be attributed to massive cash withdrawals from current accounts during the holiday season. Household demand deposits in foreign currency rose by 3% to USD 1.68 billion over the same period. 

Overall, household hryvnia deposits went up by 4.7% or by UAH  8.52 billion year-to-date to UAH 188.26 billion, while FX deposits (in dollar terms) increased by 2% or USD 0.16 billion, reaching USD 8.442 billion.

For reference

Data on deposits are published in the “Key Performance Indicators of Banks”, which differ from the corresponding data published in the “Monetary Statistics” subsections as:

• they cover data provided by banks excluding their branches operating abroad;
• they cover the principal amount without accrued interest;
• personal savings (deposit) certificates are not reflected in these data.