Savings Growth In Spite Of Financial Crisis

According to the Central Bank of Bosnia and Herzegovina (CBBH) data, at the end of September 2012, the growth of citizens' deposits by KM 345 million or 5% is recorded compared to the end of 2011, in spite of difficult economic situation and financial crisis.

The largest share in continuous increase of citizens' deposits, as seen by the maturity structure, have long-term deposits. The increase of these deposits was recovered by KM 315 million or 9% compared to the end of December 2011, and by KM 417 million or 12,2% compared to the end of September 2011. This is the best indicator of confidence in the banking sector and its stability, and the result of the existence of insured deposits scheme whose primary goal is to increase the stability of the banking sector and to protect the depositors.

Total citizens' deposits in BH commercial banks amounted to KM 7.40 billion, which is the biggest amount of deposits recorded so far. Compared to the end of December 2011, the deposits are higher by KM 345 million or 5%, while compared to the end of September last year, they are higher by KM 524 million or 7,5%.

In total deposits of all local institutional sectors with commercial banks, the citizens' deposits share takes 56.3%.

Out of total citizens' deposits, term and savings deposits amount to KM 4.56 billion or 61,6%, while demand deposits amount to KM 2.84 billion or 38,4%.

Given the currency structure, citizens deposits' in KM currency amount to KM 2.63 billion or 35,5%, deposits in Euro currency amount to KM 4.25 billion or 57,4% and deposits in other foreign currencies amount to around KM 520 million app. or 7,1%.

"The savings is one of the key generators of crediting, providing opportunities for new investments, development of the country and employment opportunities. The International Savings Day is the day to remind us about the importance of savings, hoping that the BH citizens will have more motivations to celebrate tis day in the future", said the Governor of the CBBH, Kemal Kozarić, Ph.D.

The International Savings Day is celebrated on the 31st October, as the remembrance of the First International Congress of representatives of the savings institutions from arround 25 countries worldwide, which was held in Milan on October 31, 1924. The participants of this conference agreed that saving is essential for the development of mankind and the International Savings Day was established as a revival of combat against squandering.

Public Relations Section