The savings behavior in Ukraine 2011

THE SAVINGS BEHAVIOR
IN UKRAINE

a representative survey among
the urban population 15+

August 2011

Survey design

The present report documents the results of the 2011 Savings Research in the
Research aim Ukraine, investigating people’s behavior, attitudes, motives and worries in regard to saving.
Comparable researches were conducted in Austria, the Czech Republic, Slovak Republic, and
Hungary.

Method/ Sample • telephone interviews, in the urban Ukraine (100.000+ inhabitants), in other countries nationwide
• representative for the bankable population, aged 15+ years

Sample size In UA in total, n=500 interviews were conducted.
(in AT n = 900, CZ n = 501, SK n = 505, HU n = 500)

Interviewing took place in August 2011.
Timing
Trend figures show developments compared to the previous surveys in summer 2010 and 2009.

Research Director Project Executive
Contact Ansgar Löhner Astrid Heinrich
Tel: 0043/ 732 77 22 55 - 208 Tel: 0043/ 732 77 22 55 - 217
mob.: 0043/ 676 9164650 heinrich@imas.at
loehner@imas.at

The importance of saving
Question 1: "First in general, how important do you personally assess 'putting money away'? Would you say, 'putting money away' is for you –"

General population 15+ in urban Ukraine %

2011 2010 2009

Putting money away is -

33
Very important - 1 39
43

35
Rather important - 2 25 31

20
Only somewhat 24 22
important - 3

8
Of minor importance - 4 3 6
5 2 5
Not important at all - 5

Average 2,0 2,0 2,2

The importance of saving

+ / - Diff. to 2010 General population 15+ in urban Ukraine %

15 - 29 30 - 49 50+
Total Men Women
years years years
(n=500) (n=225) (n=275) (n=140) (n=175) (n=185)

Very important - 1 37 37
43 +4 46 44
48

29 24
Rather important - 2 25 -6
24
22 26

24 29
Only somewhat 24 22
+2 25
important - 3 22

3 3
Of minor importance - 4 3 -3 5
5 7 3 2 6
Not important at all - 5 +3 3 4 3

Average 2,0 0,0 2,1 1,9 2,2 1,9 2,0

The importance of saving – country overview

+ / - Diff. to 2010 General population 15+ in - %

Czech Slovak
Austria Hungary Ukraine
Republic Republic
(n=900) (n=501) (n=505) (n=500) (n=500)

21
28 -1

Very important - 1 39 -2 +4
43

58

33 -6 45

25 -6
Rather important - 2 36 +1

19 +1 25
14

24 +2
Only somewhat important - 3 18 +1 9 +2 11
11
11 3 -3
Of minor importance - 4 5 +1 +6 10 5
Not important at all - 5 -2 2 5 +3
1

Average 1,9 0,0 2,4 +0,2 2,4 1,7 2,0 0,0

Usage of savings products
Question 4: "What about you, which of the following savings-products do you personally use? Do you personally have a -"


2011 2010 2009

Savings products are personally used:

Card account 32 26 22

Savings account, -deposit 15 20 16

Current account, on-demand account 8 13 12

Government endorsed pension insurance 3 3 8

Life insurance 3 2 2

Individual safe 0 1 1

Securities, investment fund*) 0 0 0

Save in cash, at home or in a safe box*) 50 47 38

None of this, do not save 23 23 30

*) different wording compared to 2009

Current monthly savings amount
Question 5: "And how much money do you currently put away? If you do not have a monthly savings plan, please convert it to monthly. Would you say you
currently save per month -"

Savers in urban Ukraine %

2011 2010 2009

Currently put away per month:

0 UAH / nothing 10 9 9

Up to 550 UAH 67 61 60

551 to 1.100 UAH 17 20 21

More than 1.100 UAH 6 9 11

Average amount 460 UAH 508 UAH 592 UAH

Current monthly savings amount

+ / - Diff. to 2010

15 - 29 30 - 49 50+
Total Men Women
years years years
(n=383) (n=167) (n=216) (n=105) (n=143) (n=135)
Currently put away per month:

0 UAH / nothing 10 +1 9 11 9 8 13

Up to 550 UAH 67 +6 62 71 73 64 66

551 to 1.100 UAH 17 -3 19 15 16 20 15

More than 1.100 UAH 6 -3 10 2 2 8 6

-48
Average amount 460 UAH 588 UAH 360 UAH 388 UAH 521 UAH 450 UAH
UAH

Current monthly savings amount – country overview
Base: Savers
+ / - Diff. to 2010
Savers in Austria Savers in Czech Rep. Savers in Slovak Rep. %
(n=885) (n=449) (n=492)

0 Euro / nothing 5 -1 0 CZK / nothing 5 +4 0 EUR / nothing 13

Up to 50 Euro 19 +1 Up to 500 CZK 17 +6 Up to 20 EUR 11

51 to 100 Euro 24 +1 501 to 750 CZK 5 +1 21 to 40 EUR 15

101 to 200 Euro 28 -2 751 to 1.000 CZK 18 +2 41 to 60 EUR 14

201 to 500 Euro 18 0 1.001 to 2.500 CZK 27 -4 61 to 100 EUR 21

More than 500 Euro 5 0 2.501 to 5.000 CZK 17 -5 101 to 200 EUR 12

More than 5.000 CZK 11 -4 More than 200 EUR 14
Average amount 168 € +3€

Average amount 2.163 CZK - 496 CZK Average amount 89 EUR
*) = 86 €

Savers in Hungary Savers in Ukraine
(n=399) (n=383)

0 HUF / nothing 8 0 UAH / nothing 10 +1

Up to 10.000 HUF 49
Up to 550 UAH 67 +6

10.001 to 20.000 HUF 24
551 to 1.100 UAH 17 -3

20.001 to 30.000 HUF 9
More than 1.100 6 -3
More than 30.000 HUF 11

Average amount 460 UAH - 48 UAH
*) Exchangerate: 18.10.2011
Average amount 14.705 HUF *) = 42 €
*) = 50 €

Satisfaction with current savings amount
Question 6: "Are you satisfied with the amount you currently are able to save or not? Would you say you are –"


2011 2010 2009

With current savings amount -
Very satisfied - 1 2 1 2
8 11 5
Rather satisfied - 2

22
So so - 3 23
23

28
Less satisfied - 4 30
31

44
Not at all satisfied - 5 38
33

Average 3,9 3,8 4,1


+ / - Diff. to 2010

15 - 29 30 - 49 50+
Total Men Women
years years years
(n=383) (n=167) (n=216) (n=105) (n=143) (n=135)
Very satisfied - 1 2 +1 2 1 2 1 3
8 -3 6 6 8
Rather satisfied - 2 10 9

21
So so - 3 23 0 24 23
21
25

28
24
Less satisfied - 4 30 -1 29
38
32

43 43
Not at all satisfied - 5 38 +5 38
31 30

Average 3,9 +0,1 3,8 4,1 3,9 4,0 3,9


+ / - Diff. to 2010 Savers - %

Czech Slovak
Republic Republic
(n=885) (n=449) (n=492) (n=399) (n=383)
2 +1
-3 8 5
9 8 -3

Very satisfied - 1 21 -2 13

22 0
27 -6 23
21

30 -4
Rather satisfied - 2
24
15 30 -1

39 +1
15
27 +3
So so - 3

47
14 +1 38 +5
+5 30
Less satisfied - 4 18
11 +7
Not at all satisfied - 5 4 -1

Average 2,6 +0,2 2,9 +0,3 3,4 3,8 3,9 +0,1

Motivations for saving
Question 7: "All in all, what is your motivation to save money? I will now read to you various possible motivations to put money away. Please always tell me if
this is personally for you a motivation to save money as well."


2011 2010 2009

Personal motivations for saving -

Saveguarding:

Financial back up, for emergencies 64 70 63

As an old age pension provision,
19 13 11
in order to stop working earlier, as nursing care insurance

Purchases:

For smaller and larger acquisitions, renovations 49 45 45

So that I can afford something later on 28 24 29

For vacation trip 27 24 20

For own or children's education 21 14 *)

Without a special reason 6 2 5

*) no asked in 2009

Planned saving in the next 5 years
Question 8: "What do you think: compared to today, will you be saving in the next five years rather more, rather less or equally as much money?"

Savers in urban Ukraine

2011 2010 2009

Will save in the next 5 years -

rather less
22%
rather more 16%
33% 22%
33%
38%

46%
45%
about equally as
much
45%

Reasons for cutting back savings in next 5 years
Question 8: "What do you think: compared to today, will you be saving in the next five years rather more, rather less or equally as much money?"
Question 8a: "And why will you assumedly put less money away in five years?"


(n=383)

People expecting to save less in the next 5 years compared to today 22

People expecting savings cut backs
(22%=100%, n=85)
Reasons for saving less in the next 5 years:
Inflation, everything more expensive 43
Lower income from pension 19
Will spend more 14
Increasing living-costs 14
Risk of losing job 8
Less earnings 8
Unstable situation in the country 6

Others 8
No answer 2

Worries about saving
Question 9: "We have learned that there are many worries and anxieties in regard to saving money. I will now read several of such issues to you, please
always tell me if you also share these concerns."


2011 2010 2009

Worries about saving:

Currency devaluation/ buying-power is
75 83 76
decreasing/ high inflation

Fear that I will not save enough for the future 38 37 29

Bank goes bankrupt 32 37 31

I soon can not afford to put money away
25 15 21
anymore

Saving money pays off less and less 21 19 17

Funds lose in value, sagging markets 14 13 10

Reasons against saving money
Question 4: "What about you, which of the following savings-products do you personally use? Do you personally have a -"
Question 10: "Why do you not put money away at the moment? I will now read several possible reasons for this. Please always tell me, if this applies to you."


(n=500)

People not saving money 23

Non-savers
(23%=100%, n=117)
Reasons against saving money:

Financially not possible at the moment 69

Rather spend my money 20

I invest into my own business 10

Invest my money elsewhere, more profitably 3

Have not spent thoughts about saving yet 1

People’s attitudes towards investments
Question 14: "Coming to the end, one last question in regard to 'financial investments', meaning bonds, stocks, fund etc..
What is your general opinion in regard to invest your money into bonds, stocks, fund etc? Would you say –"


2011 2010 2009
Opinion on investing in
bonds, stocks, funds, etc.
Very positive - 1 3 4 1
11
Rather positive - 2 16
19

45

Neutral - 3 48
49

23

Rather negative - 4 18
18

Very negative - 5 20
15
11

Average 3,3 3,1 3,5

People’s attitudes towards investment – country overview
Question 14: "Coming to the end, one last question in regard to 'financial investments', meaning bonds, stocks, fund etc..
What is your general opinion in regard to invest your money into bonds, stocks, fund etc? Would you say –"
+ / - Diff. to 2010
General population 15+ in - %

Czech Slovak
Republic Republic
Opinion on investing in
bonds, stocks, funds, etc. (n=900) (n=501) (n=505) (n=500) (n=500)
Very positive - 1 3 -2 4 -1 3 2 3 -1

12 12 -3
16 13 -7 16
Rather positive - 2 0

Neutral - 3 37 +4
51
48 -1
56 +3 64

Rather negative - 4 +2
28
17
18 0
15 0
16
Very negative - 5 -4 18
16 +5 15 +4
12
6

Average 3,4 0,0 3,2 +0,2 3,4 3,1 3,3 +0,2

Prompted awareness of
ethically sustainable investments
Question 15: "Concretely now, focusing on ethically sustainable financial investments, meaning such investments where economic, social and ethical criteria
are decisive in choosing them. Actually, you invest with bonds, stocks and funds only in such enterprises which operate economically with responsibility
towards society and environment. Have you ever heard or read about such special investments?"

General population 15+ %

Austria (n=900) 51

Slovak Republic (n=505) 46

Czech Republic (n=501) 32

Ukraine (n=500) 22

Hungary (n=500) 21

New question, no trends to 2010

Appeal of ethically sustainable investments
Question 16: "Assuming that you would think about a financial investment. How much more interesting or uninteresting would such an ethically sustainable
investment be for you compared to other financial investments? Would you say –"

General population 15+ %

Czech Slovak
Ethically sustainable Republic Republic
investments are - (n=900) (n=501) (n=505) (n=500) (n=500)
compared to others -
5 7 6
Much more interesting 13 11
15
15 20
23
Somewhat more interesting 23

26
35

Equally interesting 24 43
42
19

23
Somewhat less interesting 21
14
34 15
23
A lot less interesting 18 17
10


Acceptance of lower profits from ethically sustainable
investments
Question 18: "Would you accept a somewhat lower amount of profit in relation to ethically sustainable investments if you get the certainty that the enterprise
acts socially and environmentally responsible?"

Accept lower profit in favour of social
and environmental responsibility


Austria (n=900) 66


Hungary (n=500) 55

Ukraine (n=500) 35


Ownership of ethically sustainable investments
Question 19: "And do you have such an investment qualified as an ethically sustainable one?"

Have qualified ethically sustainable %
investments



Austria (n=900) 3

Hungary (n=500) 3

Ukraine (n=500) 3


The savings behavior in Ukraine 2011

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