The deposit growth in Ukrainian banks testifies restoring of confidence in banks and the national currency, president of the Ukrgasbank Serhiy Mamedov said in the interview with the Evening Kyiv newspaper.

"The growth of deposit portfolios indicates a new level of income of population, the emergence of ready assets, which people tend not only to spend, but to save also. So it makes sense to say about the restoration of confidence in the banks and the national currency. Of course, there is a situational flow of deposit resources from hryvnias to dollars and vice versa. But this phenomenon is not a total one and provides no basis for critical conclusions," the banker said.

According to Mamedov, the issuance of foreign currency treasury bonds to individuals by the Finance Ministry will attract negotiable foreign currency resources held outside the banking system.
"This type of treasury bonds can be an additional tool for financial savings, an alternative to traditional deposit products - an instrument of high reliability, since the state is a fairly reliable borrower. This product is interesting in the long-term investment prospect. In addition, I do not rule out that it will allow attracting additional foreign exchange resources to the country's economy, particularly those that are in the shadow economy now. It is also important that the bonds issued by the Finance Ministry can serve as a collateral while originating loans," he stressed.

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