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Ukrainian Economy
Economy
Banks

How Ukrainians support banking system stability with their money during war

Author
Valery Moiseev

The National Bank assessed the dynamics of hryvnia deposits. This is an important indicator of confidence in the banking system. At the beginning of the war, many feared a negative scenario with a sharp outflow of funds from the system. But that did not happen.

The NBU compared the data as of April 29 with the figures at the beginning of the year and at the beginning of the war. It turned out that:

  • the amount of hryvnia funds of individuals increased significantly in both cases. A slight outflow of funds in the first two months of the year over information pressure was offset by an increase in deposits in March. At the same time, the share of funds on demand updated the highs;
  • funds of legal entities decreased since the beginning of the year — this was mainly due to the payment of salaries while reducing revenue. At the same time, during the two months of the war, growth was also noted in this category.
NBU explains reasons for accelerated inflation in April

In general, the amount of money placed in banks as of April 29 increased by 74 billion UAH in equivalent (funds of legal entities and individuals in all currencies at a fixed rate) compared to the beginning of the war.

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