In the case of positive economic dynamics, by the end of the year, the rate for 3-month deposit certificates, which determines the income from hryvnia deposits, may decrease from the current 17.5% to 13-14%, which will affect the profitability of hryvnia deposits.
This was stated by Serhii Mamedov, Chairman of the Board of Globus Bank.
The expert does not exclude that by the end of 2024, the rates for hryvnia deposits depending on the placement term may slightly decrease, with maximum rates being at the level of 12-13% per annum. However, in the conditions of low inflation, which does not exceed 3.2% annually, the "net" profit from hryvnia deposits will be around 5%, which is almost three times higher than the profitability of deposits in foreign currency. The head of Globus Bank expects that the popularity of hryvnia deposits as an optimal and most profitable mechanism for passive income will remain at a high level, and the number of new deposits in 2024 compared to 2023 will increase by at least 10%.
"At present, there are sufficient grounds for the situation in the banking sector, despite new challenges, to remain acceptable and promising, especially regarding the further development of credit and deposit programs," summed up Serhii Mamedov.
