Holdings in Hryvnyas Are Hard Competition to Foreign Currency Holdings
OREANDA-NEWS. The result of the second quarter 2007 shows that VAB Bank has deposits in UAH of more than 572 million UAH, which is 45% of the total holdings of individuals, reported the press-centre of VAB.
The structure of deposits of individuals in foreign currencies is about 42 % - in US Dollars and 13 % in Euros.
According to the head of retail business of VAB Bank, Anton Shaperenkov, Ukrainians are more often opening saving accounts in Hryvnyas. "First of all, it is due to the stability of the national currency exchange rate and attractive deposits rate. Secondly, most of the depositors today get their salary in Hryvnyas, and the purchase of other currency brings them additional costs. In addition, level of the interest on deposits in Ukraine is now higher, than in neighboring countries and Europe, for many Ukrainians' the interest on holdings in Hryvnyas has become an attractive additional profit. The situation on the deposit market over the last 3 years shows that those who believe in the Hryvnyas got a big income", - Anton Shaperenkov explains.
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