May 5, 2022 Press Release
The Deposit Guarantee Fund (the DGF) has published on its website the findings of the nationwide survey ‘Ukrainian financial consumers’ awareness of the deposit guarantee system – 2021’. It was conducted in October-November 2021. A public presentation of the survey findings was to be held on February 24, 2022. However, due to the armed aggression of the Russian Federation against Ukraine, the presentation was canceled.
Now is not the time for holding any public events. Nevertheless, the survey results and the trends identified by sociologists will be useful for understanding the conditions under which the banking sector faced the war.
The key findings of the survey conducted a few months before the outbreak of the armed aggression are as follows:
- almost 56% of Ukrainians mostly trust banks;
- the share of citizens who do not keep any savings with a bank decreased by 12%: in 2019 this figure was 56%, then in 2021 the percentage decreased to 44%;
- the share of those holding half or more of their funds in banks increased by 10%.
Detailed results of the survey are available at the link (in Ukrainian).
The DGF conducts such surveys of financial consumers’ awareness of the deposit guarantee system biennially. The last one was conducted by the international research holding FORSERVICE in October-November 2021 using the personal interview method. 2,000 respondents were polled. The survey results are representative of the population of Ukraine over 18 years of age.