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8.0 Financial & capital markets 8.1 Bank sector overview
The macroeconomic situation and the banking system in Ukraine are stable. Despite the full-scale war of the Russian Federation against Ukraine and the loss of about 30% of the economy due to the shutdown and destruction of many enterprises, the macroeconomic situation and the banking system are stable, stated Prime Minister Denys Shmyhal. According to him, currently, there is no panic either among investors operating in Ukraine or among the population that holds deposits in banks, and both show confidence in the Ukrainian banking system. The world is surprised by the patriotic attitude of Ukrainians to their economy and the trust in the banking system, added Shmyhal.
Card terminal usage shows that the Ukrainian economy is gradually returning to work. The number of non-cash payment terminals owned by PrivatBank increased by 42% in two weeks, with small businesses resuming card payments more actively, reported epravda.com. Thus, with the beginning of the full-scale war of the Russian Federation against Ukraine, the number of active terminals fell by 66% at its lowest point, and the volume of transactions fell by 39% during the first two months of the war. However, during the last two weeks, from April 26 to May 10, the number of active POS terminals jumped by 42%, and the volume of transactions increased by 38%. Also, among the areas that significantly reduced the activity of terminals, specifically clothing and electronics, but over the past two weeks, they climbed by 64.8% and 44.2%, respectively.
43 UKRAINE Country Report XXXX 2018 www.intellinews.com