Borys Rafalovych, Deputy Chairman of the Board of COMINBANK, took part in the FinClub round table

On 10 April, the Financial Club held a roundtable discussion on "What awaits Ukrainians in the deposit market in 2024".

The following issues were discussed during the event:

- Dynamics of the deposit portfolio of banks since the beginning of 2024: analysis of the structure of the population's funds and the main trends in the market.

- How deposit rates are affected by the gradual reduction of the key policy rate.

- Is it possible to make money on foreign currency deposits now?

Also, the prospects for the deposit market by the end of 2024.

Borys Rafalovych said that in Q1 2024, Cominbank saw a monthly increase in retail deposits: 70% of depositors placed deposits in national currency, 30% - in foreign currency. The average deposit amount increased by 10% to UAH 135 thousand. The expert also noted that 80% of the depositors of JSC "COMINBANK" re-issue their deposits for new terms.
"In times of war, people's propensity to save prevails over spending. Ukrainians trust comfortable service and favourable conditions, especially with 100% guarantee of protection of deposits during martial law. 90% of our depositors place funds for a period of 6 to 12 months, as we have chosen a strategy of building long-term relationships with our clients. We offer additional bonuses for military personnel, pensioners and for re-opening deposits on a regular basis," Rafalovych said.

You can watch the recording of the roundtable discussion on FinClub's YouTube channel here:

What awaits Ukrainians in the deposit market in 2024 (youtube.com)