BUSINESS

Deposit Guarantee Fund: Prudence makes Romanians save money

The number of those who save money in banks is on the rise, both in the individual customers and the corporate segments, the Bank Deposit Guarantee Fund (FGDB) informs in a press release. In Q2 this year, the saving trend in RON reversed, and foreign currencies became preferred. By June 30, 2012 the volume of deposits throughout the entire banking system reached RON 316.6 bln, 8.1 pc more than a year ago. Out of this sum, population’s deposits accounted for RON 120.8 bln, RON 2.5 bln more than at  March 31, 2012. The average value of a deposit guaranteed for an individual customer was RON 7,700, slightly higher than at the beginning of April this year. According to FGDB, the deposits made by Romanian-based legal entities in banks on Romanian soil had a positive dynamic, as they advanced by 1.9 pc during the second quarter of 2012 (+1.7 pc in real terms), to RON 195.8 bln at the end of the interval. This evolution relied on the increase reported by the crediting institutions which participate in FGDB (+6.4 bln RON), which compensated the withdrawals operated by foreign banks active in Romania (-2.6 bln RON). Foreign currency deposits worth over EUR 100,000 had the biggest contribution to the increase of legal entities’ deposits in the banking institutions that participate in FGDB.

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