Citizens' Savings Have Reached KM 4,8 Billion

The Central Bank of Bosnia and Herzegovina (CBBH) congratulate to all citizens 31 October - the World's Day of Saving, which is marked by our citizens with the highest recorded amount of saving deposits so far. As of 30 September, 2007, the saving of Bosnia and Herzegovina citizens reached the amount of KM 4,8 billion, which, compared to the same period of the previous year, represents the increase of approximately KM one billion, i.e. 26,5%.

The level of saving of KM 4,8 billion means that the saving was increased by six times since 2000. Along with the increase of total level of saving, it is evident that there is also the increase of saving deposits in Convertible Marks, and that the ratio of saving in local and foreign currency is slightly changing in favor of Convertible Mark. « The continued  increase of the saving deposits level, as well as, the  increase of savings in Convertible Marks undoubtedly shows  that citizens believe  in stability of Convertible Mark and the  BH banking sector», stated the CBBH Governor, Kemal Kozarić. However, beside the accelerated growth rate of saving in local currency, the share of saving in foreign currency in the total saving is still quite high with approximately 67%.

As of 30 September, 2007, term and saving deposits of citizens were KM 2,73 billion, i.e. around 56% of the total saving, while the remaining part was related to the sight deposits of citizens, i.e. around 44% of the total saving. This represents approximately the same ratio of the term and saving deposits and the sight deposits, which is recorded in the same period of the last year.

The positive trend in the saving growth is encouraging, because it gives the basis to the banking sector for the investment in the production projects. We should mention here that the other ways of saving start to develop, such as the life insurance, which makes the total level of saving higher than the one of deposits in commercial banks.  

"Wishing that as many as possible citizens have the opportunity to save  more, which will provide them better living standard, the CBBH congratulate them the World's Saving Day - 31 October, " said Governor Kozarić.

 Public Relations Section