Non-state deposits in Slovak banks rose by 3 percent on an annual basis in December and reached €26 billion.

The analysis carried out by Prima Banka found, based on the current statistics announced by Slovakia’s central bank (NBS), that more than half of the total volume of money deposited in banks by people was in term accounts.

“As of the end of December, Slovaks had €14.2 billion deposited in term accounts, which accounts for 55 percent of the total volume of deposits,” Henrieta Gahérová, Prima Banka Director of the Product Management Division. told the TASR newswire February 12.

However, the total amount in term accounts actually decreased by 4 percent, which is the first decline since 2009.

“Last year ... interest rates didn’t entice customers to go for term deposits. Only the deposits with longer tenure saw some growth last year, as they were able to offer an interest of 2 percent a year,” Gahérová said.

The volume of money deposited in ordinary bank accounts amounted to 30 percent of the total volume of deposits, and stood at €8.3 billion.

“Even though last year Slovaks didn’t show great interest in depositing money in banks, it can still be said that we are a nation of savers rather than debtors. In fact, at the end of last year, Slovaks had €6 billion more in deposits than what they have taken out in loans," Gahérová said.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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