OREANDA-NEWS. August 16, 2010. As seen from VAB Bank’s retail business results, the number of deposits with maturities of 6 months and above saw a 20% increase during July, making 40% of the last month’s total attracted funds as of 01/08/2010, reported the press-centre of VAB Bank.

“Performance of the Bank in attracting liabilities from private individuals fully reflect today’s key trends in the deposit market: cash inflow into the banking system grows consistently against the backdrop of steady decrease in interest rates for hrivnia, as well as for foreign currency deposits.  It is only natural that, amid gradual reduction of market interest rates, where banks begin to introduce restrictions on amounts increase for existing deposits, many of our depositors use their current advantage to open deposits maturing in 6 months or more,” Mr Anton Shaperenkov, head of VAB Bank retail product management department, commented.

The expert emphasised that all deposit products of VAB Bank – Fixed Term Deposit, Pension Deposit, and Do It Yourself Deposit – may be placed for extended periods, particularly considering that an opportunity to achieve a maximum interest rate available is often driven by a longer deposit maturity.