"Banks` clientele to Get Used to Live without Refund Restrictions by Guarantee Fund," - O. Klymenko
The habit of Ukrainian depositors "splitting" their deposits among several banks will become outdated gradually. The OTP Bank Board Member for Retail Business Development Oleh Klymenko expressed this opinion in a comment to journalists about the law on 100% guarantees of deposits during martial law.
"Certainly, all of us remember the times, including the previous crises, when the amount of compensation for a deposit did not exceed UAH 150-200 ths, while many insolvent banks left the market, " the banker said.
At the same time, he reminded that after the President of Ukraine signs the relevant law, the reimbursement of deposits by the Guarantee Fund would cover 100% of the amount deposited in the bank. "At least for the time of martial law and three months after its end. And after that, the amount of compensation will be UAH 600 ths," O. Klymenko highlighted.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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