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Ranking of Primary Dealers in the Domestic Government Bond Market in 2020

In 2020 the Ministry of Finance attracted UAH 382.3 billion to the state budget from the placement of domestic government bonds. UAH 251.6 billion out of these funds was attracted from the placement of domestic government bonds in the national currency. UAH 130.8 billion was attracted by the Ministry of Finance in national currency equivalent by placing domestic government bonds in foreign currency in the amount of USD 3.8 billion and EUR 0.8 billion.

In the primary market, JSC CB "PrivatBank" purchased government bonds for the largest amount. In 2020 the ranking of MinFin's primary dealers by the volume of domestic government bonds purchases on the primary market is as follows:
1. JSC "Privatbank"       
2. JSB "Ukrgasbank"
3. JSC "Oschadbank"
4. JSC "OTP Bank"    
5.  JSC "Ukreximbank"       
6. PJSC "Citibank"        
7. JSC "Raiffeisen Bank Aval"           
8. JSC "Kredobank"
9. JSC "FUIB"       
10. JSC "Alfa-Bank"
11. JSB "Pivdenny Bank"
12. JSC "UkrSibbank" *

PJSC "Citibank" became the leader of domestic government bonds trading on the secondary market. In 2020 the ranking of MinFin's primary dealers on the secondary market is as follows:
1. PJSC "Citibank"
2. JSC "OTP Bank"
3. JSB "Ukrgasbank"
5. JSC "Raiffeisen Bank Aval"
6. JSC "Alfa-Bank"
7. JSC "Kredobank"
8. JSC "Oschadbank "
9. JSB "Pivdenny Bank"
10. JSC "Ukreximbank"
11. JSC "Privatbank"
12. JSC "UkrSibbank" *

Ukrainian banks remain the largest investors in the domestic government bond market: as of the end of 2020, their share in the portfolio of domestic government bonds was 52%. The portfolio of domestic government bonds owned by banks increased by 54% - from UAH 337 billion to UAH 519 billion. The share of the NBU in the domestic government bonds portfolio decreased from 40.7% in 2019 to 32.5% in 2020.  Legal entities increased their portfolio by more than twice. The number of bonds owned by them increased from UAH 26 billion to UAH 58 billion (the share in the total portfolio was 5.8%). In 2020, bonds owned by individuals increased by almost 14% - from UAH 9.7 billion to UAH 11.1 billion. In 2020, the portfolio of domestic government bonds owned by non-residents decreased from about UAH 117 billion to UAH 85 billion (8.5% of the total amount of domestic government bonds). However, in the first three weeks of 2021, the number of domestic government bonds owned by non-residents increased by almost UAH 6 billion to UAH 90.9 billion.

According to MinFin's preliminary data, the share of the government debt in the national currency was 38.2% at the end of 2020.

* - in August 2020 JSC "UkrSibbank" was excluded from the list of primary dealers for non-compliance with the requirements to ensure the purchase of domestic government bonds during their placement.