Croatian citizens had HRK 136.5 billion in saving and time deposits in banks at the end of September, about five per cent more than at the end of September 2009, and if one adds money in giro and current accounts, household funds in banks amount to HRK 151.6 billion, the Croatian National Bank (HNB) said on Friday.
The figures, collected on the occasion of World Savings day, which is observed on October 31, show that despite the decline in disposable income and declining interest rates on new deposits in the national and foreign currencies, households have continued to increase bank deposits this year.
According to HNB figures for this September, households dominate the savings structure, accounting for about three quarters of saving and time deposits in commercial banks.
Still, household deposits are growing somewhat slower than before the crisis. According to the HNB, their growth reflects people's greater caution and adjustment to unfavourable economic trends and uncertainties on the labour and capital markets.
Nearly 86 per cent of household deposits (a little over HRK 117 billion) are foreign currency deposits, while only 14 per cent (HRK 19.4 billion) are in the national currency.
In this year's first nine months, household foreign currency deposits went up 5.7 per cent (HRK 6.3 billion), while kuna deposits went up 1.2 per cent (HRK 232 million).
Croatians tend to save in euros, which accounts for nearly 81 per cent of all saving and time deposits, whereas kuna deposits account for 12.3 per cent.
As many as 77.3 per cent of household deposits in commercial banks are time deposits (HRK 117.2 billion), while saving deposits amount to HRK 19.3 billion or 12.7 per cent.
Money in giro and current accounts at the end of September amounted to a little over HRK 15 billion.
