ECONOMY FINANCE&BANKING

RON-denominated household deposits decline in July 2016, first monthly drop in 11 months

RON-denominated household deposits declined in July 2016 from June 2016, the first monthly drop in 11 months, but they were up 10.5 percent y-o-y, according to data released earlier this week by the National Bank of Romania (BNR).

“RON-denominated household deposits went down RON 34.6 million to RON 97,424.6 million. (…) RON-denominated corporate deposits (non-financial corporations and non-monetary financial institutions) went down 3.3 percent to RON 75,083.9 million,” says BNR is a press statement.

Compared with July 2015, deposits of non-government resident customers advanced 12.2 percent, on a 21.4 percent annual increase in corporate deposits.

Forex-denominated deposits of resident households and companies (non-financial corporations and non-monetary financial institutions) edged up 0.4 percent to RON 84,663.1 million when expressed in domestic currency (when expressed in EUR, forex deposits moved ahead 1.67 percent to EUR 18,959.8 million). In year-on-year comparison, residents’ forex deposits expressed in RON advanced 6.9 percent (when expressed in EUR, residents’ forex deposits rose by 5.5 percent); household forex deposits climbed 7.3 percent when expressed in domestic currency (when expressed in EUR, household forex deposits expanded by 5.9 percent) and forex deposits of legal entities (non-financial corporations and non-monetary financial institutions) went up 6.2 percent when expressed in RON (when expressed in EUR, forex deposits of resident legal entities stood 4.8 percent higher),” reads the BNR statement.

Deposits of non-government resident customers decreased by 0.9 percent on a monthly basis, to RON 257,171.6 million in July 2016.

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