Public hryvnia deposit outflow 3.8% in Feb, foreign currency deposit outflow 5.1% - NBU

Individuals' deposits pegged to the hryvnia fell by 3.8% or UAH 7.24 billion in February 2015, to UAH 184.2 billion, and those pegged to foreign currency fell by 5.1% or $670 million, to $12.53 billion, the National Bank of Ukraine (NBU) has said.

According to the report, companies increased hryvnia-pegged deposits by UAH 1.2 billion or by 0.7%, to UAH 168.43 billion, cutting the currency-pegged deposits by $10 million or 0.2%, to $5.48 billion.

The currency deposits of individuals expanded by UAH 134.57 billion in February in hryvnia terms due to the devaluation of the national currency or by 63.1%, while deposits of companies grew by UAH 63.41 billion or 71.4%.

Since the start of 2015, individuals' deposits in hryvnias narrowed by UAH 11.77 billion or 6%, and in foreign currency – by $1.19 billion or 8.7%.

Companies reduced their deposits in Ukrainian banks by UAH 1.44 billion or 0.9% in January and February 2015, and in foreign currency – by $240 million or 4.2%.

The NBU said that hryvnia-pegged credits of individuals fell by UAH 390 million in February or by 0.4%, to UAH 105.99 billion, and in foreign currency they fell by $110 million or 1.8%, to $6.14 billion.

The credits of companies pegged to the national currency fell by UAH 6.15 billion or 1.4%, to UAH 533.05 billion and those pegged to foreign currency – by $530 million or 2.3%, to $22.62 billion.

Credit debt of individuals in hryvnias fell by UAH 1 billion in January and February 2015 or by 0.9%, and in foreign currency – by $180 million or 2.9%, while companies – by UAH 10.02 billion or 1.8% and $1.22 billion or 4.1% respectively.

Correspondent accounts of banks at the NBU narrowed by UAH 6.4 billion or 18.9% in February, to UAH 27.47 billion, while the obligatory reserves amounted to UAH 37.8 billion.

Average deposit rate for individuals and companies in the national currency in February grew from 8.03% to 9.06%, while the credit rate rose from 16.98% to 18.64%.

In foreign currency the rates fell from 7.14% to 6.56% for deposits and from 8.45% to 7.87% for credits.

Average hryvnia-pegged credit rate on the interbank currency market grew from 17.22% to 22.39% per annum.