OREANDA-NEWS. August 30, 2007. By the end of the year deposit rates increase on all currencies is expected. Firstly, it is connected with season factor — since Autumn credit market starts to become more active, and, as consequence — banks start to feel more needs in resources. Secondly, rates increase can be influenced by the National Bank policy in the field of foreign currency crediting restriction. So, according to Decree of NBU №235 dated 22.06.2007 the cost of resources attraction by banks at foreign markets is restricted by average weighted rate of profitability on bonds of Ukraine foreign state loans in USA dollars +2% annuals.  For today it makes up approximately 9% annuals, i.e. not all banks will be able to attract resources on such price. This can provoke a lack of foreign currency funds at the expense of international loans restriction and they will have to increase rates on deposits. Moreover, this can result in reorientation from foreign currency crediting to crediting in hrivna that will be also effected on deposit rates increase.

"Many banks, not waiting for Autumn, have already increased deposit rates. Taking care about its depositors, PRAVEX-BANK has also increased rates according to market trends. So, on deposits in USA dollars our clients can get up to 11,5% annuals and on deposits in national currency — up to 15,5% annuals" — comments Svitlana Kramarova, Head of Treasury of PRAVEX-BANK.