Number of hryvnia and dollar deposits in the banking system has increased since the beginning of the year, which indicates confidence in financial institutions - economist
Kyiv • UNN
The number of hryvnia and dollar deposits in the banking system has increased since the beginning of the year, which indicates confidence in financial institutions, the economist says.
Since the beginning of the year, the number of hryvnia and dollar deposits of legal entities and individuals in the banking system has increased. This is due to the fact that the National Bank liquidated unscrupulous banks in 2015-2016 and there is trust in the remaining financial institutions. This opinion was expressed by economic expert Oleg Getman in an exclusive commentary to UNN.
Details
"Yes, indeed, the NBU website publishes monthly information on deposits, but there is no information for the current month yet, and for the previous month and since the beginning of the year - yes, deposits of both Ukrainians and legal entities have been increasing, both in hryvnia and in dollars," Hetman said.
According to him, the trend of growth in the number of deposits in the Ukrainian banking system has been maintained for 1-1.5 years.
"This is due to the fact that the NBU has worked very well with the banking sector, it cleaned up all the fraudulent banks, vacuum cleaner banks, various fraudulent banks back in 2015-2016, and the remaining banks - about 80 banks - are trusted. There hasn't been any destruction or collapse of any large systemic banks for many years," Hetman explained.
Recall
Olena Sosedka, co-founder of Ukraine's first fintech ecosystem Concord Fintech Solutions, shared her tips on choosing a reliable bank for deposits, calculating passive income from deposits, and taking into account factors such as interest rates, deposit terms, taxes, and currency fluctuations to preserve and grow savings in the face of economic instability.
In addition, the expert explained what to look for to protect yourself from losing money. Among other things, the expert advises to always count on the worst-case scenario when obtaining a loan. In particular, you should assess your own ability to repay the loan in the event of a decrease in income or unforeseen expenses. For more information on what else to look for when taking out a loan, see link.
