Bulgarian Households Made Bank Savings Amounting to BGN 126 M in May

Finance | June 23, 2015, Tuesday // 17:31|  views

In the month of May, Bulgarian households made bank savings amounting to BGN 126 M.

The sum is greater than the deposits made in April, which amounted to only BGN 33 M and it grows after it fell in each of the first four months of the year.

The trend for the growth of household deposits is retained in line with the low interest rates of deposits.

The deposits of households increased by 0.31 % on a monthly and 3.8 % on an annual basis, investor.bg informs.

The growth rate has accelerated compared to April, when the monthly increase amounted to only 0.1 %.

At the end of May, the Bulgarian population held more than BGN 40.5 B in accounts in commercial banks, which amounted to 48.3 % of the foreseen Gross Domestic Product (GDP) for 2015.

The deposits of firms rose by BGN 120 M, but the increase did not compensate the drop of BGN 303 M, which was registered in April.

The savings of non-financial entreprises amounted to more than BGN 15.5 B, marking a decrease of 0.8 % compared to the previous month and an increase of 1.2 % compared to May 2014.

The deposits of financial entreprises, which include pension funds, investment mediators, insurance companies and other non-banking financial institutions, increased for the first time in the year.

Their deposits grew by 5.5 % in May, the increase amounting to BGN 147 M, the total amount of savings standing at more than BGN 2.8 B.

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Tags: Bulgaria, savings, deposit, household, interest rate, banks, firms, GDP


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