News of the Bank

Deposits that have “melted” in summer will “rise” in autumn

Considering the absence of any significant reaction of banking system on the political changes in the country, it can be forecasted that seasonal amount of income of the previous years will be preserved this year until the end of autumn — the Chairman of the Board of "Pravex-Bank" Stepan Chernovetskiy stated. In his opinion in summer the banks will propose almost the lowest rates over the year. And in the period of growing business activity (for example in period of active operations amount increase and accordingly with the growing need of resources — edit.), after the end of vacations season, the rates will gradually rise until the end of the year, approximately on 0,5-1%.

"However it should be stated, that certain changes in this tendency can be made according to the banks ability to draw the funds from abroad, that in it's turn depends of political stability in Ukraine and it's rating", — the banker considers.

S. Chernovetskiy has mentioned that there is a forecasted by many analysts tendency nowadays in Ukraine: the most of banks decrease the deposit's percentage rates in all the currencies. Especially this applies to UAH deposits, which rates were growing in last year's spring. "Even the signs of political crisis in the country didn't lead to panic on the financial market of Ukraine as a whole and on the banking market particularly, the people quite calmly react on the new turn of public authorities' confrontation. As a result, at a present time only a few banks (from the group of large ones) has began to propose their clients higher percentage rates in comparison with the beginning of spring of this year, — he added.

Besides, there is a tendency to replace the physical person's deposits drawing by funds drawing from abroad. So in the I quarter of the year 2007 short-term takings has raised on 3,27 billions of USD and long-term takings — on 2,83 billions of USD. This contributes to the lowering of the deposit rates, cause the banks become less dependant of deposits drawing, — the Chairman of the Board of "Pravex-Bank" stated.