Deposits guaranteed by Romania’s Bank Deposit Guarantee Fund totaled EUR 35 bln at end-March

The total value of deposits guaranteed by the Bank Deposit Guarantee Fund (FGDB) in Romania was of RON 159.2 billion (over EUR 35 billion) at the end of March this year, according to data from FGDB. Almost 13.8 million individuals and over 898,000 companies held deposits guaranteed by FGBD at the end of the first quarter of 2014. At end of March 2014, the guaranteed deposits held by individuals totaled RON 122.7 billion (some EUR 27 billion), up 3.3 percent year-on-year. However, the value of the guaranteed deposits held by companies declined by 6.4 percent compared to December 31, 2013, to RON 36.5 billion (EUR 8.1 billion). “Despite this decline, the guaranteed deposits held by companies remain at one of the highest levels in recent years, their value being 6.6 percent above the one registered at March 31, 2013,” reads FGDB’s statement. At end - March 2014, companies held deposits in local currency with a total value of RON 26 billion (EUR 5.7 billion), while in foreign currency, the deposits totaled the equivalent of RON 10.5 billion (some EUR 2.4 billion). Irina Popescu, irina.popescu@romania-insider.com