April 14, 2025
PRESS RELEASE
During this period, the banking system of Ukraine was not only preserved, but also strengthened and the total value of retail deposits, including those of sole traders, doubled.
“In April, 2022, on the initiative of the President in cooperation with the Government, Parliament and the National Bank of Ukraine, a full deposit coverage was established in the tightest terms in Ukraine, allowing to reimburse 100% of retail deposits, including interest accrued in the event of bank’s bankruptcy, ” Managing Director of the DGF Olga Bilai said. “This step made it possible to maintain trust of the bank clients, as well as integrity of their funds, which is very important during the war-time and will be the basis for the future reconstruction of Ukraine. There was no bank runs, on the contrary, deposits value in Ukrainian banks increased to UAH 1.4 trillion. The system is stable and the DGF is an important link of the financial safety net that provides this stability and financial security in the country on the whole”.
During these 3 years, from February 24, 2022 to April 1, 2025, the DGF disbursed approximately UAH 9.3 billion to the depositors of the failed banks, which is more than 96% of the total guaranteed compensation in these banks. The DGF paid out the guaranteed reimbursement in full to the depositors of 7 banks.
The DGF has also introduced an option to receive the guaranteed reimbursement remotely: in addition to visiting banks’ branches directly, such option is available through the online channels of the agent banks and Diia application. Since the war began, the DGF has paid out UAH 2.3 billion via the Diia application. “We didn’t stop payouts to the depositors even for a single day and made sure that the deposit guarantee system works as a clock, enabling people living anywhere in Ukraine or worldwide to receive their funds in the most convenient way. It means that a deposit guarantee system is ready to meet all current challenges," Olga Bilai told.
Recall, that 100% guarantee apply to the term deposits, as well as the funds in current accounts of individuals and sole proprietors, and will be valid during the martial law in Ukraine and for three months after its cancellation. After the expiration of three months from the date of cancellation or termination of the martial law, the maximum amount of guaranteed compensation for depositors in Ukrainian banks shall not be less than UAH 600 thousand.