Central Bank Chief: Euro Adoption Successful, Growth Steady, Inflation Easing in Bulgaria
Bulgarian National Bank Governor Dimitar Radev took part in a meeting of EU Heads of Mission held under the European Presidency of the Republic of Cyprus
Bulgarians' Savings Up by BGN 2.6 B Jan-Aug 2012
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In August 2012, The deposit base went up by BGN 2.59 B since the beginning of 2012. Photo by dariknews.bg
Bulgarians keep postponing spending and putting more and more money in commercial banks, according to data of the Bulgarian National Bank (BNB).
In August, for the 23rd month in a row, Bulgarian households kept putting money aside in deposit accounts, with increase of BGN 270 M in only one month.
The deposit base went up by BGN 2.59 B since the beginning of 2012, according to calculations of profit.bg.
After July statistics pointed to record levels of deposits for the year amounting to BGN 439 M, one month later the data indicated the 2nd weakest result for 2012 after the level of deposits of BGN 200 M registered in February.
40% of deposits of Bulgarians are denominated in Euros, 51.24% are in Bulgarian levs, and deposits in other currencies, most often US dollars, are less than 9%.
Over 70% of deposits amount to up to BGN 100.
Despite the record savings, a total of 75.5% of Bulgarians' deposit accounts contain up to BGN 100, according to BNB statistics for the past six months.
Nearly 8.14 M of the deposit accounts opened for sums of up to BGN 1000 are denominated in BGN and contain a total of only BGN 865 M.
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