The Chairman of the Management Board of PrivatBank forecasts that by the end of the year, hryvnia deposit rates will reach 10-12%, he said in the interview to EP.
«It is my belief that one of the main problem of the country is the high interest rates. Even during the years of the high inflation, the loan rate rarely decreased lower than 20%. We started from 20% on the hryvnia deposit line. Now, our rates are at 16%», he said.
«We also decreased currency deposit rates sharply. We need currency deposits only to ensure currency turnover in the bank. We do not disburse currency loans today; that is why we lowered the rate. We have almost 40% of the deposit market, and I think that as the driver of the market, we can encourage the market to decrease the interest rate», Shlapak said.
According to him, it should result in decreasing loan rates.
«If we take the stable conditions and imagine that there will be no cataclysms in the country, then by the end of the year, we will all have hryvnia deposits at 10-12%», the Chairman of the Management Board forecasts.
«The bank portfolio has the deposits, which were concluded at 12%, sometimes at 13% on currency. Currently, we let them go from the bank, and we invite those, who are ready to deposit euros at 5% and dollars at 6%, thus decreasing the load for the currency deposit portfolio», Shlapak said.
«In case of the full capital increase of the bank, decreasing both deposit and loan rates, the bank will not be loss-making in 2017. I have no doubts about it», he summarized.
