Ukrainians have come to trust the hryvnia more and are investing more actively: a banker identified three major changes in the public’s financial behavior
6 July 20:11
YOUTUBE
After the outbreak of full-scale war, Ukrainians began to place greater trust in the national currency, save more actively, and diversify their financial instruments more frequently. Maksym Tsymbal, first deputy chairman of the board of Pivdenny Bank, spoke about this in an interview with the YouTube channel "Komersant Ukrainian".
According to him, three key changes in the population’s financial behavior can be identified since 2022.
“If we look at how the profile of Ukrainians has changed since 2022, we can identify three trends. One is that, surprisingly, Ukrainians have come to trust the national currency—the hryvnia—more. If we look at the statistics, the share of the population’s funds held in the national currency has risen from 51% to 66%,” the banker said.
He added that the share of term deposits in hryvnia has also increased significantly—from 50% to 70%.
The second trend, according to Tsymbal, was the growth in household savings. Ukrainians began to set aside more money regardless of their income level—both in the mass market segment and among premium clients.
The third trend is the diversification of savings.
“Right now, we’re seeing deposits in hryvnia, dollars, and euros. By the way, demand for the euro has also been growing recently. But this isn’t just about currency—it’s also about deposits and government bonds,” he noted.
The banker also highlighted the sharp rise in Ukrainians’ interest in government bonds. According to him, public investment in government bonds has increased from 11 billion hryvnias to 150 billion during the full-scale war—a nearly 15-fold increase.
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