Dnipro city council places UAH 600 mln on deposit accounts at Ukrgasbank
Deputy Mayor of Dnipro Volodymyr Miller and head of Kyiv-based Ukrgasbank's Dnipro regional directorate Natalia Kaminska have signed an agreement to place available UAH 600 million from the city budget of Dnipro City Council on deposit accounts at Ukrgasbank.
The agreement covers six deposit agreements for the period from one to two months and an interest rate on deposits is 18.3% per annum, Dnipro City Council's press service said.
"The interest rate will bring about UAH 14 million in additional income to the municipal budget. The funds will be spent on Dnipro's needs and support municipal programs," the press service said.
The deposits are short-term and do not foresee additional liabilities.
The decision to place available funds owned by the territorial community on accounts at state banks was taken for the first time in the past three years. Prior to that, assets were placed at the treasury with no further action.
An open, public tender among state banks for the placement of available funds on their deposits accounts took place on May 11. Three banks bid in the tender – Ukreximbank, Oschadbank, and Ukrgasbank. The latter won the tender.