Bank deposits rose slower in August, on trend with sluggish credits

Deposits made in lei or in foreign currencies slowed down in August to a 30.9 percent increase rate, from 35.2 percent in July, reaching 141.33 billion lei, as reserves in foreign currencies also decreased considerably.

The August annual deposits increase rate was the lowest of the last ten months, being rivaled only by the rate in October 2007, when companies' both national and foreign currencies deposits had moved forward by 29.9 percent compared to the same period in 2006.

Deposits of individuals and companies increased in August by 0.7 percent month-on-month, lei deposits advancing by 1.3 percent, up to 93.5 billion lei and foreign currencies deposits shrinking by 0.4 percent, down to 47.8 billion lei.

While individuals' reserves clogged in August around 19.9 billion lei and slowed down their increase rate to 33.2 percent from 34.3 percent in the July 2007-July 2008 interval, companies' lei deposits went up by 2.7 percent, to 43.6 billion lei.

In the foreign currencies segment, the monthly advance of 3.1 percent in the individuals' savings was neutralized by the 5.4 percent shrinking of companies' deposits. Individuals reached on August 31 29.13 billion lei worth reserves and companies owned foreign currencies deposits that equaled 18.68 billion lei.

NewsIn