Ukrainian state banks unjustifiably overstate rates to attract deposits of Ukrainians, Deputy Chairman of the National Bank Dmitry Sologub said in an interview with FinClub.

"Our people trust state banks often less than commercial banks, but a gap of 500 basis points between the deposit rate of a bank with foreign capital and a state bank is strange. State banks are unlikely to set the upper part of the range of deposit rates, "Sologub said..

For example, Raiffeisen Bank Aval is now offering 10.3% of the annual hryvnia deposit, while the state "Oschadbank" - 15.5%.

The difference in rates is due to the fact that state-owned banks do not pursue commercial goals.

"State banks make decisions a little differently, as it is done in commercial banks. Still, we do not see any orientation toward profit, as in commercial banks, in state institutions, "said the deputy chairman of the National Bank.

"This is one of the elements that limits the normal conduct of a monetary transmission. We would like the state banks to work more actively with their free liquidity and interest rates, "he added..

Raiffeisen Bank Aval in 2016 earned 3.82 billion UAH. "Oschadbank" was on the 6th place with a profit of 468.2 million UAH.

It was reported that an increase in the share of state banks in the banking system to 55% led to unhealthy competition in the market, so the National Bank of Ukraine proposes to reduce it to 30% within five years.

The Ministry of Finance has completed work on the draft law on state banks, the adoption of which is stipulated by the program of cooperation with the IMF and the strategy of reforming state banks submitted last year.

As the "Zeraklo of the Week" wrote, negatives in the activities of state banks have already been transformed into quite realistic threats for the activities of not only large financial institutions, but the entire banking system of Ukraine.