Among rational motives of making financial decisions by Ukrainians there are fear to lose savings or the "flocking instinct", Evhen Bublik, official of the Institute of economy and predictive modeling, told the roundtable "Model of economic man", ForUm correspondent reports.

"According to current data, Ukrainian population has about 40-50 billion dollars in cash holdings. This is a powerful investment resource the economy and banking system need, especially udner current conditions," he noted.

According to him, bank deposits are the main financial instrument being used by the population, but at the same time the deposit system is no very popular among Ukrainians.

"50% of Ukrainians have some financial instruments, mainly card accounts, and only 20-25% have deposits. Moreover, deposits are used as a mean to save money, to invest and to accumulate," Bublik said.

At the same time, the specialist added that the complicated situation at financial markets influences the model of behavior of Ukrainian depositors. "Banks offer high percentage rates for deposits to attract people, but negative tendencies and rumors about collapse of large banks push depositors to cash out their money and put in under the bed or to look for more reliable, mainly state banks to transfer deposits," Bublik explained the tendencies of in the banking system for the second half of 2012.


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