Economic agents, residents of Moldova deposit about 2.2 billion lei in banks in last June

Chisinau, 20 July /MOLDPRES/ - Commercial banks in last June attracted term deposits in national currency worth 1.3 billion lei from economic agents and residents, - down by 19.5 per cent against the month before, according to data by the National Bank of Moldova (BNM). Depositors preferred to make savings in banks in Moldovan lei. In June 2019, deposits in foreign currency in an equivalent sum of 880 million lei were created, which is by 420 million lei less than the savings in the national currency.  

BNM noted that “the most attractive deposits in Moldovan lei, from the viewpoint of terms, were for a period from 6 to 12 months (46.9 per cent of all term deposits attracted). In terms of clients’ categories, the deposits attracted from private people (37.3 per cent of all deposits) had the biggest share.

The average interest rate on term deposits in the national currency increased insignificantly, by 0.08 percentage points against the previous month, up to 4.6 per cent – a figure comparable to the annual inflation rate from last June, 4.4 per cent. The increase in prices eroded significantly the profits got from bank deposits, which prompted residents and economic agents to be more reticent to the deposits in the financial institutions, experts said.  

In June 2019, private people placed deposits with an average interest rate of 4.77 per cent and legal entities – with an average interest rate of 4.01 per cent. The average interest rate on the deposits of private persons is lower than in June 2018, BNM said.

The deposits in national currency with the terms from 6 to 12 months, being the most attractive ones in the month reported, were attracted with an average interest rate of 4.80 per cent (deposits of private people – with an average rate of 4.95 per cent and of legal entities – 4.18 per cent). The highest average interest rate on the deposits attracted in the national currency from private persons was recorded in the deposits with terms from 1 to 2 years (5.43 per cent) and with terms of more than 5 years (5.55 percent); in case of legal entities – at deposits with terms from 2 to 5 years (5.16 per cent).