| NBS: Record foreign currency savings |
| 24 November 2009 | 17:19
| Source:
Beta |
BELGRADE --
Foreign currency savings in Serbia reached a record amount of EUR 5.74bn, which is the same level as in September 2008, the central bank (NBS) stated.
According to the National Bank of Serbia, in the last quarter of the year, clients acted in fear of the economic crisis to withdraw foreign currency in the amount of EUR 965mn from banks, which spelled an end to several years of growth in the hard currency savings sector.
“During this year, there was a constant growth in foreign currency savings, and this year's record of EUR 392mn coming in, which was reached during the 'week and month of saving' [campaign], gives us a basis for an optimistic prognosis that the growth trend will continue and that domestic currency savings will play a large role as a source for financing the balances of the banking sector,” the NBS stated.
The central bank stated that the trust of citizens in the banking sector was contributed to by its, including securing timely payments to all those who decided to withdraw their money at the end of 2008, acting under the influence of a "negative psychosis" that had been created.
“With the measures of other state institutions which stimulated savings in 2009, starting with the increase in insurance deposits from EUR 3,000 to 50,000, to the temporary abolishment of taxes on income from foreign currency savings interest rates, the return of savings to banks and their further increase have definitely contributed to the liquidity and stability of the banking sector, which suffered in the time of the crisis,” the NBS concluded.
|
search b92.net
B92 live 
"The situation in Europe is dire. After years of profligate spending, Greece is becoming overwhelmed. Barring some sort of large-scale bailout program..."... 
What we need in Belgrade, really, is a suspension bridge. We need a bridge that will suspend our doubts about ever having enough viable bridges. We need a bridge that will suspend our disbelief about the dangers
...
