According to operational data from the NBU, in January 2025, bank deposits in the national currency decreased by 3% (-56.5 billion UAH) to 1826.9 billion UAH. At the same time, business deposits fell by 5.2% (-56.7 billion UAH), while household deposits saw a minor increase (+0.2 billion UAH).
As noted by the chairman of the tax committee of the VRU, Daniil Getmantsev, foreign currency deposits rose by 1.1% (+0.24 billion USD) driven by both businesses and households.
According to the MP, the outflow of deposits in UAH in January is a seasonal phenomenon.
“This trend has been observed in ten out of the last eleven years. And while, of course, each year has its own specific circumstances, as was the case at the beginning of 2015 or 2022, this is purely a seasonal occurrence,” explains Getmantsev. “It is related to peak settlements in December, at the end of the year. Since both the budget and the private sector try to close settlements as much as possible, the balances on deposits grow more rapidly towards the end of the year. Specifically, in December 2024 alone, they increased by 140.4 billion UAH in UAH deposits. This is especially noticeable in the settlements during the last days of the year.”
According to a report from the Ministry of Finance, the best conditions for UAH deposits (on average) are offered by the following banks: Ukrainian Capital, Asvio Bank, and Kristalbank.
