The reduction of the discount rate to 13% and the slight decrease in the rate for 3-month deposit certificates by 0.5% to 16% will not significantly impact the yields on hryvnia deposits. It is expected that by the end of summer, the average rates on hryvnia deposits will remain at the May-June level, ranging from 13-14% per annum. However, the growth of new deposits may somewhat pause.
This was stated by Dmytro Zamotaiev, Director of the retail business department at GLOBUS BANK.
According to the expert, the differentiation of rates on hryvnia deposits in July-August will mainly depend on the deposit terms.
“Average rates on deposits from 3 to 6 months will be 12% per annum, average yields on deposits from 9 to 12 months will be around 13-14% per annum, rates on deposits up to 1.5-2 years will average 14-14.5% per annum, and the highest yields are expected on deposits from 2 to 2.5 years, with rates reaching 15% per annum,” summarized the banker.
