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Slovaks’ bank savings at €26 billion

NON-STATE deposits in Slovak banks increased by 3 percent to €26 billion over 2013. More than one half of the total volume of money deposited in banks by ordinary people was in term accounts, Prima Banka reported based on data provided by the National Bank of Slovakia, the TASR newswire wrote in February.

NON-STATE deposits in Slovak banks increased by 3 percent to €26 billion over 2013. More than one half of the total volume of money deposited in banks by ordinary people was in term accounts, Prima Banka reported based on data provided by the National Bank of Slovakia, the TASR newswire wrote in February.

“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,” said Henrieta Gahérová, Prima Banka Director of the Product Management Division, as cited by TASR, adding that the total amount in term accounts actually decreased by 4 percent, which is the first decline since 2009. “Last year ... interest rates did not entice customers to go for term deposits. Only the deposits with a longer tenure saw some growth last year, as they were able to offer interest at 2 percent a year.”

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 did not show great interest in depositing money in banks, it can still be said that we are a nation of savers rather than debtors,” said Gahérová. “In fact, at the end of 2013, Slovaks had €6 billion more in deposits than what they had taken out in loans,” said Gahérová.

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Topic: Finances and Advisory


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