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Deposits in Croatian banks grow in September

Author Radomir Ralev
Deposits in Croatian banks grow in September Ivan Smuk/Shutterstock.com

ZAGREB (Croatia), November 8 (SeeNews) - Total deposits in Croatian banks increased to 288 billion kuna ($44.2 billion/38.7 billion euro) at the end of September, up 0.5% month-on-month, the local unit of Austria's Raiffeisenbank said on Thursday.

The depositary money rose by 0.7% month-on-month to 86 billion kuna, while total savings and fixed-term deposits edged up 0.4% to 202 billion kuna, Raiffeisen Bank (RBA) said in a report published on its website.

Kuna-denominated savings and term deposits totalled 35 billion kuna, while foreign currency deposits stood at 166.5 billion kuna, or 82% of total.

The structure of deposits shows a tendency for holding liquid assets, motivated by historically low interest rates on savings. The result is a high liquidity in a financial system supported by expansive monetary policy measures and modest lending recovery, RBA said. 

(1 euro = 7.43525 kuna)

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