OREANDA-NEWS. Ukrsotsbank Chairman Boris Timonkin believes that the decline of UAH loans value will inevitably lead to realignment of interest rates on deposits in foreign and national currencies, the bank's press service informs.

Commenting on the major banks reduction of rates to UAH loans for individuals, Boris Timonkin noted: "At present, all banks have many grivnas and few dollars, as the dollar resources are being used for mortgage and car loans and grivnas remain in banks under 0%. I think that for one or two years we will have a Russia system here, where the difference in UAH and USD loans rate will differ by one percentage point."

Ukrsotsbank Chairman also believes that the realignment of interest rates on deposits in foreign and national currencies will become inevitable consequence of this process. "We have inexplicably high rates on deposits in UAH. This has no economic justification. Indeed, in recent years UAH has strengthened against USD: if earlier the rate was UAH 5.50./USD, now it is UAH 5.05/USD. Why, then, rates on deposits in UAH are steadily higher than on USD deposits? There can be only one explanation: we have brought up rentier class, who got used to high deposit rates. Unfortunately, the deposit guarantee fund, membership in which should not be obligatory but a sign of the bank quality also promotes deposits' high price. In fact, knowing of the guarantee compensation existence, the greedy investor often carries his savings to the most risky banks under the highest percentage. And then, we observe beside the National Bank meetings on collapsed banks clients with 'Bring back our money!' slogans. It turns out that reliable and big stable banks largely form the payment fund for the bad ones. In addition, they must keep up quite high rates on deposits; otherwise they will lose the competition for the investor."