The Savings Continue To Grow In Spite of Unfavorable Economic Conditions

According to the data of the Central Bank of Bosnia and Herzegovina (CBBH), total citizens' deposits in BH commercial banks, at the end of September 2013, amounted to KM 8.09 billion, which is the biggest amount of deposits recorded so far.
In spite of very unfavorable economic conditions, compared to the end of December 2012, the deposits are higher by KM 439 million or 5,7%, while compared to the end of September last year, they are higher by KM 698 million or 9,4%.

In total deposits of all local institutional sectors with commercial banks, the citizens' deposits share takes 58,1%.

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 172 million or 4,3% compared to the end of December 2012, and by KM 337 million or 8,8% compared to the end of September 2012. 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.

Out of total citizens' deposits, term and savings deposits amount to KM 4.92 billion or 60,8%, while demand deposits amount to KM 3,17 billion or 39,2%.

Given the currency structure, citizens deposits' in KM currency amount to KM 3.07 billion or 38%, deposits in Euro currency amount to KM 4.52 billion or 55,8% and deposits in other foreign currencies amount to around KM 506 million app. or 6,2%.

"I am aware that, due to the current economic situation, many citizens of our country welcome the World Savings Day without ability to set aside part of their income to use their savings to ensure stability and safety in the future. However, i am convinced that, in the forthcoming time, we will achieve the economic growth that will allow the citizens the possibility for savings accumulation. Savings are important as one of the key generators of crediting which provides opportunities for new investments, development of the country and employment opportunities", 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.

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