Romanians' propensity for saving is diminishing as deposit interest rate remains negative

The stock of deposits of non-government bank customers in Romania decreased in June 2023 by 0.1% compared to the previous month, to RON 533 bln (EUR 107.4 bln), and increased by 10.8% (+0.5% in real terms) compared to the same period of the previous year, National Bank of Romania (BNR) data show.

Residents' deposits in local currency, with a share of 68% in the total deposits of non-government customers, decreased by 0.5%% m/m to RON 362 bln, Cursdeguvernare.ro reported. Compared to June 2022, they increased by 20.3% y/y (+9.1% in real terms).

Households' deposits in local currency increased by 1.9% m/m to RON 194 bln and by 23.7% y/y (+12.2% in real terms) compared to the same period of the previous year.

The stock of deposits denominated in local currency of other sectors (non-financial corporations and non-monetary financial institutions) decreased by 3.1%m/m (to RON 168 bln) and increased by 16% y/y (+5.5% in real terms).

Foreign currency deposits of residents, expressed in RON, representing 32% of the total volume of deposits of non-government customers, increased by 0.6% m/m, reaching RON 171 bln (expressed in euros, they increased by 0.7%, up to EUR 34.5 bln). Compared to June 2022, they decreased by 4.9% y/y (-5.2%, expressed in euros).

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