Deposits in Bulgaria Banks Hit New Record High

Deposits in Bulgaria Banks Hit New Record High

Banks in Bulgaria have been recording consistent and significant growth in deposits throughout 2011, a trend which peaked in the last quarter of the year, official data shows.

The deposits of citizens in local banks increased by BGN 768 M only in December last year, according to data of the central bank BNB.

Thus the total amount of deposits of citizens hit a record-high BGN 31.9 B at the end of 2011, marking an annual increase by 21% over 2010.

From October to December 2011 deposits increased by BGN 1.4 B, which is the largest growth compared to the previous quarters and coincides with growing concerns over the economic situation in the eurozone.

The central bank however provided no break-down of the figures into Bulgarian and foreign-owned accounts. (Source: Sofia News Agency)

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