DEPOSITS

In May versus April, deposits from residents reduced considerably; their year on year growth rates accelerated. Deposits from HHs (especially, national currency ones) continued to go up. Balances of demand deposits from NFCs (in particular, national currency ones) reduced, which was attributable to production cycle and scheduled transference of tax payments.

In May, total new deposits grew as compared to the previous month and by the 12-month cumulative data as well. Unlike in April, volumes of agreements concluded with HHs went up.

In May, deposits from residents reduced by UAH 2.5 billion or by 0.5% to UAH 507.5 billion. But, their year on year growth rates accelerated to 12.2%. Both national and foreign currency deposits declined (by UAH 1.2 billion or by 0.4%, and by UAH 13 billion or by 0.6%, correspondingly). At the same time, the year on year growth rates of national currency deposits accelerated to 11.9% (versus 11.2% in April), whereas those of foreign currency deposits slowed down to 12.6% (as compared to 13.5%, correspondingly). During the month, deposits with original maturity over 2 years grew by UAH 0.3 billion or by 0.8%, which improved the breakdown of deposits by original maturity. At the same time, demand deposits went down by UAH 2.6 billion or by 1.5%.

In May, balances of deposits from HHs increased by UAH 0.3 billion or by 0.1% to UAH 337.0 billion; their portion grew by 0.4 p.p. to 66.4%. Such dynamics were formed against the background of an increase in real wages and the stable UAH/USD exchange rate. The year on year growth rates of deposits from HHs totaled 14.1%.

In May, deposits from HHs grew exclusively at the expense of an augmentation in balances of national currency deposits (by 0.4 billion or by 0.2%). Balances of foreign currency deposits declined; especially, balances of deposits in euros went down, in particular, due to a decline in EUR/USD exchange rate. Withinforeign currency deposits, only balances of US dollar deposits increased. The year on year growth rates of national and foreign currency deposits from HHs made up 16.6% and 11.4%, correspondingly.

In May, balances of deposits from HHs with original maturity over 1 year and up to 2 years grew considerably (by UAH 1.1 billion or by 0.9%), which improved the breakdown of deposits by original maturity. At the same time, during the month, demand deposits reduced the most (by UAH 0.6 billion or by 0.8%). Versus the previous month, deposits from NFCs went down by UAH 2.3 billion or by 1.6% to UAH 140.7 billion, which was a main reason of the May decline in deposits. But, the year on year growth rates of deposits from NFCs accelerated to 10.7% (as compared to 9.8% in April).

Deposits from NFCs declined chiefly at the expense of a reduction in national currency deposits (by UAH 1.6 billion or by 1.7%), in particular, due to income tax repayment. Foreign currency deposits from NFCs went down by UAH 0.8 billion or by 1.5%. At the same time, the year on year growth rates of national currency deposits from NFCs accelerated to 7.9% (as against 55% in April); the year on year growth rates of foreign currency ones decelerated to 16.4% (versus 19.3%, correspondingly). Versus the previous month, by all maturities, balances of deposits from NFCs reduced, except for deposits with original maturity over 2 years, which grew UAH 0.2 billion or by 2.3%. During May, balances of demand deposits declined by UAH 1.8 billion or by 2.1%; the reduction was observed chiefly in national currency ones. Within short-term deposits from NFCs, observed were a reduction in balances of deposits in US dollars along with a simultaneous increase in hryvnia deposits.

The most considerable decline in balances of demand deposits was observed in corporations of transport and communication, extractive industry, production and distribution of electric power, gas, and water (in hryvnias and US dollars), and in corporations engaged in real estate, leasing, engineering, and rendering services to entrepreneurs, manufacturing and trade (in hryvnias). At the same time, balances of US dollar deposits from manufacturing grew by UAH 1.1 billion at the expense of export proceeds. There was observed an increase in hryvnia deposits with original maturity up to 1 year from trade and manufacturing corporations along with a reduction in US dollar deposits with the same maturity. Balances of national currency short-term deposits from corporations engaged in agriculture and real estate, leasing, engineering, and rendering services to entrepreneurs increased. National currency deposits from trading corporations with original maturity over 2 years grew the most.