Bank deposits up by UAH 28B over past month - NBU governor

As of March 31, the banking system recorded an inflow of UAH 28 billion (in all currencies) to deposits of individuals and legal entities.

Head of the National Bank, Kyrylo Shevchenko, spoke of this in an interview with Toronto Centre, posted on the NBU website, Ukrinform reports.

"As of March 31, we see the inflow worth the equivalent of UAH 28 billion to deposits of individuals and legal entities (in all currencies, at a fixed rate), compared to that on February 24, when the war began," said Shevchenko.

According to the central bank governor, the banking system as a whole performs stably. All payments are made as usual.

"Ukrainian banks remain connected to the National Bank’s SEP system of electronic payments and process customer payments as smoothly as in pre-war times. We try our best to ensure that the banking system remains functional, regardless of location. In areas of Ukraine where there are no active hostilities, almost all bank branches are open. Some offices even serve customers in combat areas. Non-cash payments are made without restrictions," Shevchenko said.

Also, if necessary, banks have access to a range of NBU instruments to increase liquidity, such as blank refinancing loans, which were launched on the first day of war on February 24.

"At the same time, the demand for such refinancing is currently low. This is a sign that banks need no additional liquidity, although a full-scale war is underway," the NBU chairman stressed.

As previously reported, the head of the National Bank of Ukraine, Kyrylo Shevchenko, appealed to the central banks of Canada, Japan, Britain, the United States, Switzerland, and the European Central Bank to review and terminate correspondent relations with all banks in Russia and Belarus.