СУЧАСНА ДЕПОЗИТНА ПОЛІТИКА БАНКІВ УКРАЇНИ ЯК СКЛАДОВА СИСТЕМИ УПРАВЛІННЯ ПАСИВАМИ

Abstract

The resilience of the banking system during the war is largely determined by the availability of sufficient sources of funding – own, attracted and borrowed. One such source is bank deposits. The deposit policy of commercial banks in Ukraine has changed significantly in recent years, and banks today have ceased to depend on deposit sources, due to sufficient liquidity of banks due to cheap funds raised from the NBU as refinancing. The main differences in the deposit policy of banks in 2014–2019 and in 2020–2022 are summarized. There is a steady increase in deposits even in times of war, and demand deposits significantly outweigh time deposits, which is due to the desire of customers to have free access to their funds in conditions of uncertainty in the future. The general tendency to increase the deposit portfolio of banks is due to the restoration of confidence in the banking system, as well as the existence of the Deposit Guarantee Fund, which during martial law and three months after its termination will provide full compensation to depositors. Since 2020, we have seen a significant reduction in the level of deposit rates, which today don’t cover inflation. In addition, banks today have no economic reason to raise deposit rates, as the real economy has not had enough facilities to increase lending due to the crisis, the COVID-19 pandemic and especially the war. As an object for investment, deposits today compete with IGLBs, which have higher yields and are not taxed. Today, the main problems associated with attracting deposits in Ukraine are: uncertainty about the future, falling incomes, reduction of interest rates on bank deposits, high level of interest income taxation, significant amounts of cash in circulation, etc. Modernization of banks’ deposit policy should be based on constant analysis of the deposit market, adaptation to the conditions of its operation and the formation of adequate interest rates by banks in order to further invest in the real economy.