In the January to October period, the total corporate and household deposits had climbed by UAH 80 billion, or by 14%. In particular, the household deposits had grown by UAH 65 billion (by 18%), with the corporate deposits increasing by UAH 15 billion (by 7%).

It is worth mentioning that both corporate and individual customers preferred deposits in the national currency. In the first ten months of 2013, the national currency deposits accounted for 90% of the increase in the household deposits, being the sole driver of the growth in the corporate deposits. 

The expansion of banks' deposit base was mainly driven by an increase in the long-term deposits. The share of long-term deposits in their total amount was up by 5.6 percentage points, reaching almost 42%. The household deposits were the main component of long-term deposits.

“Presently, the public prefers long-term deposits, which account for more than half of the total deposits attracted from individual customers,"  said Deputy Governor of the National Bank of Ukraine Oleksii Tkachenko.

For banks, deposits are one of the major sources of the funding base which they use to conduct asset side operations, primarily lending transactions.

For the third year in a row, Ukrainian banking sector has delivered a sound performance. Turnover of asset side transactions (in particular, lending transactions) of Ukrainian banks continues to grow, quality of the bank loan portfolio is improving, and the equity of the banking system is expanding. The overwhelming majority of banks (90%) are operating profitably. “These figures point to the domestic banking system stability and stronger confidence therein, which is corroborated by the steady growth of household deposits," noted Mr. Oleksii Tkachenko.