Cash inflow to banks increased by 13% last year, according to the National Bank of Ukraine.

"Shocking Cash Surge: Banks Report a 13% Increase in Cash Turnover! Discover the Surprising Factors Behind This Economic Boom and What It Means for Your Wallet in 2024. Don't Miss Out on the Insights That Could Change Your Financial Future!"

https://mind.ua/news/20284531-obsyag-nadhodzhennya-gotivki-do-bankiv-torik-zris-na-13-nbu2025-01-31 07:20:41

In 2024, the cash turnover volumes of banks increased. Specifically, the amount of cash received by bank cash desks last year rose by 13% compared to 2023, totaling 2,819.3 billion UAH.

According to the NBU press service,

it is noted that cash withdrawals from bank cash desks grew slightly less (by 12.5%) and reached 2,862.6 billion UAH.

“This is attributed to positive economic activity throughout 2024, which was supported, among other factors, by rising wages and social payments to the population,” the National Bank explained.

According to the report, the cash turnover volumes of banks (in terms of both receipts and withdrawals) for 2024 exceed pre-war levels of 2021 by an average of 11%.

The regulator indicated that the increase in cash withdrawals of the hryvnia from bank cash desks was influenced by public expectations, particularly regarding the duration of the war and ongoing attacks on critical infrastructure.

“As a result, citizens were inclined to form a certain cash reserve,” the NBU clarified.

The largest volumes of cash were withdrawn by banks from cash desks (% of total withdrawals):

for client operations using payment cards (85.4% of total withdrawals);
to replenish postal service operators (3.7% of total withdrawals);
for purchasing foreign currency from clients (3.3% of total withdrawals).

At the same time, the largest sources of cash receipts to bank cash desks were (% of total receipts):

trade revenue (31.0% of total receipts);
client operations using payment cards (23.0% of total receipts);
receipts from foreign currency sales (19.5% of total receipts);
revenue from all types of services (12.8% of total receipts).

Background. Previously, Mind reported that cash withdrawals from bank cash desks increased by 12.6% in the first half of 2024. According to the NBU, this was due to the recovery of economic activity driven by rising wages and social payments, stability in the foreign exchange market, and moderate inflation.