Savings in Bulgarian Banks Hit Record High

Savings in Bulgarian Banks Hit Record High

Savings in local banks continued to see steady growth to a new record high in June, the Sofia News Agency ( reported, quoting central bank data.

Citizens' deposits with local banks increased by 388 million levs in June, nearly two times more over the same period the previous year, according to central bank data.

Citizens' deposits totalled 33.8 billion levs at the end of June, up by an annual 15.3%.

The deposits of companies and state institutions in local banks dropped by 391 million levs in June, to 20.9 billion levs, but were still 705 million levs more than a year earlier.

The news agency quoted the findings of a survey, according to which over the last five years only 45% of Bulgarians had sufficient incomes to make regular savings, predominantly small sums of 100 levs per month.

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