Savings Reach 4 Billion within a Year
The citizens and companies in Bulgaria have saved over 4 billion leva in a year as deposits of individuals amount to 2.8 billion leva and firms' deposits are 1.2 billion leva. Obviously Bulgarians put their last coin in the bank instead of spending it, bankers commented.
They explain the growth of bank deposits with lucrative interests and the security offered by the financial institutions. In the last couple of years real estate prices have been dropping and Bulgarian stock exchange doesn't guarantee profits to the investors. Because of that deposits are the most secure investment.
Bank savings of physical persons have increased by 11% in a year and in the end of June totaled 28.4 billion leva, data of Bulgarian National Bank shows. Deposits of companies are 1.2 billion leva and they have risen by 10%. The middle class is the pillar of the banking system. Deposits worth between 10,000 and 20,000 leva are just 336 thousand, but their total worth is 4.6 billion leva./Source: Standart/